Asian equities gain after China Caixin manufacturing PMI data

02 August, 2017, 00:53 | Author: Franklin Nunez
  • China's Factory Activity Slows in July

Sterling hit its highest level in 10 months against the USA dollar and British government bond prices fell after Tuesday's Markit/CIPS UK Manufacturing Purchasing Managers' Index (PMI) rose to 55.1 from a downwardly revised 54.2 in June.

New orders, higher output and rising employment spurred Dutch manufacturing to its fastest growth in more than six years in July, a survey showed on Tuesday. "However, the pace at which input costs rose was moderate and much weaker than its long-run average". There was better news from the survey's price indicators, with reduced cost inflationary pressures leading output price inflation to wane.

New export business increased at the second-strongest rate in the history of the survey, beaten only by the reading in April 2010.

Manufacturing in the United Kingdom is increasing, according to a survey from the Purchasing Managers' Index (PMI). Companies' data should enforce confident in general expectations and to keep the economy on the right track towards stronger growth, while the key monthly decline would lead to uncertainty again.

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Chen Zhongtao, an analyst with the China Logistics Information Center, called the July reading a seasonal fluctuation.

The slowdown in non-manufacturing activity was mainly due to contraction in property and some residential service sectors.

Any reading over 50 indicates improving conditions.

Both output and new orders increased at slower rates during July.

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Meanwhile, on a regional level, the survey highlighted that the headline Nikkei ASEAN Manufacturing PMI slipped to 49.3 in July from 50.0 in June, marking the first deterioration in the health of the sector so far this year.

"Above-trend responses across the key components of the survey would signal that the drag on overall economic growth from the sector in the second quarter of this year is likely to be temporary", Ms. Hopley said. On Monday. the CFLP manufacturing PMI reached 51.4, a trade below expected, but still in expansion, while a 54.5 for the services PMI also was seen as steady.

Rob Dobson, Director at IHS Markit, said the third quarter of 2017 gave manufacturers "a solid footing": "UK manufacturing started the third quarter on a solid footing".

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