India manufacturing PMI rises to 5 year high in December

Poland's manufacturing activity expanded at the fastest pace in almost three years in December, survey data from IHS Markit showed Tuesday. The December figure was the highest reading since August.

Companies continued to shrink their payrolls last month, despite stronger increases in demand and production, but the rate of job losses was the slowest in nine months.

Activity in China's factories expanded at a faster rate in December, according to a private gauge that offered a conflicting signal of economic activity in the world's second-largest economy.

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Economists expect growth to have slowed at the end of the year as Beijing continues to reduce excess production capacity, impose environmental curbs on output and rein in frothy market activity.

This is also the highest PMI in the last three months of October, November and December.

Andrew Harker, associate director at IHS Markit, which compiles the survey, said "The Vietnamese manufacturing sector recorded a welcome return to growth of output in December, supported by a solid and accelerated increase in new orders". It was the first slowdown in growth since early 2016.

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"The sector therefore is in good shape heading into 2018", he added. It also vowed to keep a tighter grip on the money supply in a much more hawkish message than it had at the previous year's meeting.

The Nikkei Malaysia Manufacturing PMI said business conditions in the Malaysian manufacturingsector broadly stagnated in December, following an improvement in November. Concerns over relatively subdued client demand and government policy changes dampened confidence.

Costs of raw materials such as oil and steel rose while prices of materials from Chinese suppliers increased, leading to a sharp rise in input costs in December.

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The manufacturing sector employed less people as the sub-index of employment dropped 0.3 percentage points month on month to 48.5 in December.

  • Ryan Wade