Booming orders help United Kingdom factories to best month since 2013: PMI

Manufacturing output rises in November

The pace of growth in the Canadian manufacturing sector was little changed in November as an uptick in new orders and employment was offset by slower production, data showed on Friday.

The Nikkei India Manufacturing Purchasing Managers' Index (PMI) rose from 50.3 in October to 52.6 in November, indicating substantial improvement of operating conditions in the country's manufacturing sector.

"In the fourth quarter, the economy is likely to maintain the stability observed since the start of the second half of the year". The latest reading was the highest so far this year.

However, the weaker pound has helped many manufacturers to compete in export markets. On its current course, manufacturing production is rising at a quarterly rate approaching 2%, providing a real boost to the pace of broader economic expansion.

"But manufacturing only makes up 10 percent of the economy, and the more domestically-focused service sector - worth around 80 percent of GDP - is probably more exposed to Brexit-related uncertainty and the inflation squeeze on household income", Hare said.


"The PMI suggests the strong growth momentum in the Filipino economy has some way to go", Aw said.

The European Commission's gauge of British factory orders hit a 29-year high last month - but this was not enough to prevent a drop in wider economic sentiment caused by a slowdown among services firms.

Reports also sugest that new orders for investment goods jumped at the quickest rate since 1994, and companies reported continuing support to exports from the droopy sterling exchange rate, although the report's compilers say mentions of this "were less prevalent than earlier in the year". The increase in new export orders picked up last month from October while overall new business rose at an even faster pace, suggesting domestic demand was also resilient, according to the survey.

Rising costs were commonly associated with higher prices paid for imported raw materials, with demand for inputs exceeding supply.

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