Japan Manufacturing PMI Slows To 52.4 In June - Nikkei

Japan Manufacturing PMI Slows To 52.4 In June - Nikkei

Latest report from the Central Bank of Nigeria has indicated that the Manufacturing Purchasing Managers' Index (PMI) stood at 52.9 index points in June 2017, amounting to expansion in the manufacturing sector for the third consecutive month.

Elsewhere in Asean, the Philippines, Vietnam, Thailand, and Singapore all registered improvements to their manufacturing sector, with the Philippines topping the list for a second concurrent month at 53.9 on the PMI.

Paul Smith, senior economist at IHS said: "Malaysia's Manufacturing PMI sank to a record low in June, just two months after signalling growth in April".

"This was despite demand from foreign clients strengthening in June, as shown by new export sales rising at the quickest pace for just over four years". But subindexes for stocks of inventories and stocks of finished goods were both in contraction territory, signaling that businesses are still cautious about restocking, it said.

Although only marginal, new orders increased at the fastest pace in three months.

Chinese manufacturers' confidence about the 12-month outlook for production fell to the lowest level this year, the survey showed.

Japan Manufacturing PMI Slows To 52.4 In June - Nikkei
Japan Manufacturing PMI Slows To 52.4 In June - Nikkei

The fall in total new business was marginally offset by higher exports in June as new orders from overseas rose for the second time in three months, albeit only modestly.

Nigeria's manufacturing sector continued its growth for the third consecutive month as the Purchasing.

"While a lift in new orders indicates that momentum may continue in the near-term, concerns about the impacts of further rises in energy prices are accumulating like storm clouds over the sector and particularly for more energy-intensive industries".

Aw says the most concerning aspect about the recent trend is that improving worldwide trade has not helped to boost activity levels across the region despite export sales rising at the fastest pace in four years in June.

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