Manufacturing purchasing managers' index up in January

Manufacturing purchasing managers' index up in January

In a report, IHS Markit said the latest PMI signaled a moderate improvement in operating conditions at goods-producing firms. "If this is sustained, sales growth could strengthen further this year", Owen, for his part, acknowledged.

While analysts were surprised by the sudden jump in manufacturing PMI, it is for the 30th consecutive month that the manufacturing PMI has remained above the 50-point mark.

According to a private survey by data analytics firm IHS Markit, hiring activity has also improved in January, with firms increasing employment at the fastest rate in close to seven-and-a-half years. "However, the picture has change somewhat in the short space of time since the survey was conducted [13-24 January], with the disruption to business in China from the coronavirus bound to have an impact on German manufacturers' exports and sentiment in the coming months", said Phil Smith, Principal Economist at IHS Markit. January saw growth of new business, output, exports, input buying and employment gather speed. "By comparison, stocks of finished goods expanded only marginally".

Several companies also mentioned not replacing workers that had resigned, offsetting firms that hired additional labor.

Pennsylvania health department officials say 'coronavirus threat remains low'
This week, the USA will evacuate more planeloads of Americans from China, placing them under similar quarantine, Messonnier said. On Saturday, health officials in MA said the virus has been identified in their state, marking the eighth case in the country.

"Manufacturers reported a sharp deterioration in supplier performance mainly due to Taal volcanic eruption mid-way through the month that led to further traffic problems of vendors", it added.

Mr. Owen said it is important to note that the manufacturing sector was able to maintain its growth despite the eruption of Taal Volcano last month, which "notably affected" some businesses.

On the other hand, Owen emphasized "one clear issue heightened by the eruption was road traffic, which has disrupted delivery times in each of the past six months".

Input prices rose at the slowest rates in the past three years, while output prices increased at the fastest pace in five months, and broadly in line with the long-run series average. The Economic Survey 2019-20 projected India's economy to grow in the range of 6-6.50 per cent in the 2020-21 financial year.

Related News:



Most liked

China praises Canada, slams USA over coronavirus response
The study said the new coronavirus is 80% genetically similar to the SARS virus that killed more than 800 people in 2002 and 2003. Calling the virus a pandemic would take it to a new level, however, since that term refers to a more global outbreak.

Gaga 'crazy' about her new beau
The entrepreneur and investor is a Harvard graduate who runs Facebook co-founder Sean Parker's Institute for Cancer Immunotherapy. Her good-natured husband looks at her lovingly while holding on to his wife, and it seems to show that love is really blooming.

Commonwealth takes back Maldives after 40 months
The Commonwealth is a key grouping of countries, most of which are former territories of the British Empire. Its Ambassador to the United Kingdom now becomes its High Commissioner, signifying Commonwealth membership.

HK hospital strike calls to close China border
On an annual basis, the economy shrank 2.9%, compared with a revised 2.8% fall in the third quarter. The city's retail and tourism sectors rely heavily on spenders from the Chinese mainland.

Samsung Galaxy Z flip phone hands-on video surface online
The Z Flip has a 12MP+12MP dual-camera setup on the outside and a 10MP autofocus selfie camera on the inside. The 19-second clip shows the Galaxy Z Flip in the aptly-titled Mirror Purple color version, from all angles.

How to watch the Iowa caucuses
"Any report otherwise is [expletive] (or categorically) false", Kerry wrote on Twitter. Presidential candidates who received less than 15% are considered nonviable.

Kobe Bryant honored with moment of silence at Super Bowl
Though they lost to the Portland Trail Blazers 127-119, the Lakers defeated the Sacramento Kings 129-113 on Saturday. The passing of Bryant is going to take a long time to get over.

Pamela Anderson and Jon Peters split after 12-day marriage
Pamela Anderson has split from her new husband Jon Peters after just 12 days of marriage. Jon most recently was one of the producers on the Oscar-winning film A Star Is Born .

Four dead as drink-driver hits seven children out for ice-cream
He did not appear in court and did not apply for bail, which was formally refused by Magistrate John McIntosh. Davidson, the driver was set to look on Sunday at the Parramatta Bail Court docket however didn't present up.

Coronavirus cases in California increase: What you need to know
Two cases were also confirmed over the weekend in Santa Clara County , California, according to its local health agency . Cody believes at this point, the flu is much more unsafe in Santa Clara County than the novel coronavirus .

Pentagon Approves Use Of Military Bases To Quarantine Of Up To 1000
HHS would be responsible for all care, transportation and security of the evacuees, according to the statement. On Friday US officials imposed a mandatory 14-day quarantine on 195 Americans flown out of Wuhan.

Mathematicians, geeks celebrate rare palindrome day
In common Australian date format, it was a palindrome - meaning the numbers read the same backwards and forwards. This "ubiquitous palindrome" won't happen again for another 101 years, with the next date being 12/12/2121.

Joe Biden: Nobody Found Anything Wrong With Hunter, Burisma
His son worked for Ukrainian gas firm Burisima Holdings while he was in office, according to the SC senator. "I like Joe Biden ". Biden responded Hunter is a "very bright guy" who has said he regrets taking the position with the company.

This man created a traffic jam on Google Maps with 99 phones
Google uses AI to show real-time traffic on a particular road or street by checking the number of Android devices on that route. If there are more people using Google maps in one area, the traffic status will be updated to reflect that.

WeWork Taps Sandeep Mathrani to Be Its CEO
According to a Bloomberg report, Marcelo will continue to be chairman of Collier We and Matherni can report to him. Minson and Gunningham sought to throttle back the pace of growth, but the company is a slow ship to steer.