PMI rises to 52.5 in last month


Turkey's manufacturing activity expanded at the fastest pace in four months in December, survey figures from IHS Markit and Istanbul Chamber of Industry showed Tuesday.

China's manufacturing purchasing managers' index (PMI) came in at 51.6 in December, slightly decelerating from 51.8 in November, according to the National Bureau of Statistics (NBS) data released Sunday. "Higher new orders encouraged firms to increase employment sharply", said Gabriella Dickens, an economist at IHS Markit. Readings above 50.0 indicate growth in activity.

"Panellists commented on reduced volumes of new business".

"The fall in the headline PMI was driven by a contraction in new orders".

Outstanding business also declined for a seventh successive month in December, showing evidence of under-capacity in the manufacturing sector.

"With global growth expected to improve to a seven year high in 2018, we think that firms are right to be confident about their prospects for this year", Mr O'Sullivan said.

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Resulting from improved demand conditions, Indian manufacturers upped their staffing levels at the end of the year. In fact, job creation accelerated to the strongest since August 2012, the survey said.

Businesses would remain positive in terms of output over the next 12 months. Anecdotal evidence pointed to stronger market demand from home and worldwide markets.

However, input costs rose at their fastest pace in nine months, as prices for raw materials rose.

"Meanwhile, the Future Output Index signalled the strongest level of confidence in three months, with more than one-in-five survey participants forecasting higher production".

"Challenges remain as the economy adjusts to recent shocks, but the overall upturn was robust compared to the trend observed for the survey history". Nonetheless, business conditions strengthened in each of the past 49 months.