Indonesia's Nikkei Manufacturing PMI Rose in April 2018

03 May, 2018, 16:04 | Author: Natasha Holloway
  • Manufacturing was an engine of growth over the past year as companies were lifted by a surge in global trade and the competitive advantages of a cheap pound

Growth of new export orders slowed in nearly all of the nations covered, the only exceptions being slight improvements in Germany and France.

A third successive monthly fall in the headline PMI represents a clear turning point in growth since the start of the year and can not simply be attributed to first quarter's weather-related disruptions, Paul Smith, director at IHS Markit, said.

China's manufacturing sector showed a further marginal improvement in operating conditions last month, driven by accelerated output, although weaker demand in global markets stagnated exports, according to an unofficial leading economic indicator released on Wednesday. New order inflows rose at a solid and faster clip, prompting firms to recruit new staff and expand production. "Business optimism has also dipped to a five-month low as concerns about Brexit, trade barriers and the overall economic climate remained widespread", Dobson further commented in the PMI report. Although the rate of job creation eased to its lowest since last August, it remained well above the long-run survey average. Moreover, the rate of selling price inflation edged up from March's three-month low. The strongest expansions were registered in the Netherlands, Austria and Germany, and the weakest in Spain.

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The seasonally adjusted Purchasing Managers' Index, or PMI, dropped to 52.9 in April from 55.0 in March.

Both gauges remained above 50-the threshold between expansion and contraction, indicating that the manufacturing sector maintained stable growth momentum, said analysts.

According to IHS Markit's report, lower production requirements and subdued demand conditions led to the deterioration in manufacturing conditions, which exceeded the series trend. Post- production inventories have decreased in each of the past seven survey periods. Furthermore, the pace of input price inflation accelerated to the sharpest in almost 7 years. Although solid, input cost inflation moderated for the second month in a row to the weakest since last September. That suggest Asia's third largest economy is in good heart as disruptions from a shock ban on high-value currency notes in November 2016 and the chaotic launch of a goods and services tax (GST) in July fade.

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