Chinese industrial output strong in August, PMIs show

BlackRock’s Lueck Says Draghi Is in ‘Difficult Situation

Growth in Brazil's manufacturing sector accelerated to a three-month high in August on the heels of strong local and foreign demand, a private survey released on Friday showed, suggesting an economic recovery may be gaining speed.

The IHS Markit/CIPS purchasing managers' index for the United Kingdom manufacturing sector jumped to 56.9, a four-month high, in August from an upwardly-revised 55.3 in July, easily exceeding the 55.0 consensus forecast in a poll of economists.

"New export orders didn't disappoint either with new business wins from Europe and the United States of America - which all supported the sector's fastest rise in jobs growth since June 2014". While the domestic market was the main driver, new export orders also gathered pace.

Manufacturing output declined to 54.3 from 56.3, though some survey respondents reported having a greater number of projects in the pipeline.

United Kingdom manufacturing expanded at the strongest pace in four months in August, lifted by both export orders and domestic demand.

Chinese manufacturing activity picked up pace in August, according to an official survey indicating a crucial component of the world's second-biggest economy is holding firm.




"Indeed, investment growth has cooled recently and we anticipate a further slowdown as the impact of tighter monetary conditions continue to feed through".

That echoed similarly robust official data on Thursday suggesting the industrial sector is continuing to prosper from a year-long, government-led building boom.

"The Caixin China General Manufacturing PMI rose 0.5 points to 51.6 in August, the second-highest reading of this year so far".

Companies expanded their production schedules and buying activity, while business confidence rose to its highest level in five months.

The sector extended the current sequence of growth to 50 months.

"After a loss of momentum in fiscal year (FY) 2016, IHS Markit forecast the Indian economy to recover marginally in FY 2017, with real GDP growth expected at 7.3 per cent", Lima added.

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