Published: Fri, February 03, 2017
Markets | By Lucia Cruz

Malaysia manufacturing PMI highest in 20 months: Nikkei

Whether service sector growth remains robust in the course of 2017 is a key issue for this year: the drag of rising prices on consumer purchasing power will be a key area to watch.

Manufacturing accounts for around a tenth of British economic output, and recent strong manufacturing PMIs have not fully transferred into subsequent official growth statistics.

The South African PMI is compiled by BER and sponsored by Absa. The index for new export orders was 53.1, just below a preliminary 53.2 but still indicating the fastest gain in 12 months.

Howard Archer at IHS Global Insight said it was a largely disappointing report and fanned concern over the outlook for stuttering construction sector, while the spike in optimism and employment requiring activity and orders to pick up if they are to be sustained.

However, there was more positive news for the sector on the employment front, as firms hired staff at the fastest for eight months, while sub-contractor usage rose at the steepest pace since December 2015. It ranges from a score of 0 to 100, with 50 deemed neutral. All regions reported a significant deterioration in supplier performance.

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A PMI measures changes in activity levels across China's manufacturing sector from one month to the next.

Zhao said that the steady growth of manufacturing could not hide the fact that more than 40 percent of business owners had reported cash and labor shortages and weak market demand.

The UK's manufacturing PMI dipped slightly to 55.9 in January, according to data providers IHS Markit, only slightly down from a 2.5-year high in December.

Input prices rose at the fastest pace in 57 months, while stock shortages intensified, prompting manufacturers to raise charges to protect their profit margin, the survey said.

The survey for this month was conducted January 13th to 20th, 2017 by the bank with a total of 1,781responses received from a sample of 1,950 respondents, representing a response rate of 91.3 per cent.

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