India's manufacturing sector growth falls to five-month low in March: PMI

04 April, 2018, 01:11 | Author: Roderick Gutierrez
  • GBP/USD – Pound Higher, US ISM Manufacturing Dips

It was marginally higher than a preliminary reading of 53.6. The Production Index registered 61%, a 1 percentage point decrease compared to the month before. At the same time, the increase in the number of new orders is the lowest in the last 20 months since mid-2016, with the increase in export orders remaining stable.

China's manufacturing activity grew at its slowest pace in four months in March as weaker-than-expected demand discouraged companies from production or restocking, a Caixin survey showed Monday. The PMI Manufacturing Index and the Institute for Supply Management (ISM) each released their manufacturing data for the month of March.

A reading over 50.0 points shows economic expansion, while a reading below would signify a contraction.

But January's reading was also revised lower and for the first quarter as a whole, the PMI suggested factory output rose at a quarterly rate of about 0.4 percent to 0.5 percent, slowing from 1.3 percent in the fourth quarter of 2017.

This is the eighth consecutive month that the index remained above the 50-point-mark.

"March saw the biggest fall in the manufacturing PMI since June 2011 and the third successive slowing in the pace of expansion", said IHS Markit chief business economist Chris Williamson. "Companies cited rising demand at home and overseas plus recent government policy announcements as helping shore up confidence in terms of their future production levels". That said, it was a three-year high on the expectations, along with higher input costs as companies worry about tariffs at the same time they are seeing higher raw materials costs.


On this background, the spending has risen at the fastest pace since last October, driven by higher commodity prices.

Mexico's PMI for March was 52.4, up from 51.6 in February.

This was a poor start to weekly economic news, but the situation subsequently improved when the German unemployment rate fell and inflation rate estimates rose. Vendor performance has now deteriorated for 19 months in a row.

All of these reports follow one from late last week showing the overall US economy grew more in the final quarter of past year than earlier estimates.

However, the UK's deficit with the rest of the world shrank, as the United Kingdom received increased earnings on foreign investments thanks to a growing world economy'.

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