Tuesday, 25 September, 2018

Eurozone manufacturing PMI hits record high in December

Moderation in fuel price rises is though to be behind the statistic Moderation in fuel price rises is though to be behind the statistic
Laurie Berry | 13 January, 2018, 01:32

The problem for those hoping for volatility is that the data came in more-or-less in line with economist expectations - analysts were forecasting a reading of 54.1 for the month of December, a tick up on November's 53.8. Anything above 50 means expansion and below, contraction. "The outlook is also reasonably bright". Buoyed by increase in output and new orders, Nikkei Manufacturing Purchasing Managers' Index showed a steady growth. Rates of expansion in France and Greece were the fastest for over 17 and nine years respectively while growth remained "robust" in Italy and Spain, said IHS Markit.

"Total new orders picked up at the fastest pace for seven months in December, which provides a positive signal for construction workloads in the short term". The latest upturn in input buying was the steepest for two years, which survey respondents greatly attributed to increased business requirements.

The number of new jobs being created across the sector touched its highest level since June, according to the report, which showed housebuilding work had grown for the 16th month on the bounce. And, while price inflation was faster - both on prices paid and charged - the survey noted signs that businesses were working to reduce operating costs. "Notably, the PMI reading was slightly stronger than the average (54.0) recorded since the inception of the survey in March 2005".

The euro was higher, climbing 0.11% against the dollar to $1.2029.

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Brees' touchdowns went for 80-yards to Ted Ginn and 9 yards to tight end Josh Hill . ET, KPTV-12, FOX). "I made a play on the last one, the one that counts".

The eurozone economy grew by 0.6 per cent in the third quarter of 2017 and unemployment fell to its lowest in nearly nine years. Global growth also got a boost from a solid reading in China's manufacturing sector.

Overall, the PMI survey indicates that the United Kingdom grew at a pretty steady pace at the end of a year ago....

The composite indicator of business conditions stood at 52.1 in December, down from 55.4 in November, marking the first fall in six months and the slowest pace of expansion since July.

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