Spain manufacturing sector posts more solid growth in December

Posted January 02, 2018

French manufacturing activity ended 2017 on its strongest footing in more than 17 years with firms rushing to take on extra workers to meet surging demand, a monthly survey showed on Tuesday.

The Caixin China General Manufacturing Purchasing Managers' Index (PMI) rose to 51.5 last month, up from 50.8 in November.

The rate of growth in new orders was the fastest since June 1998 as client demand improved, and new export orders also increased sharply.

A reading above 50 indicates economic expansion, while a reading below 50 points toward contraction.

The moderate decline in headline PMI was mainly attributable to the lower inventory, while production growth remained solid despite the "unfavorable working day effect", as there were two fewer working days in December 2017 compared with past year, said a CICC research report.

The US Says Visa Services Will Resume In Turkey After Dispute
Turkish authorities will also inform the United States "in advance" if they intend to arrest any local staff member in the future. In a reciprocal move, Turkey also lifted restrictions on visa services for American citizens, according to the embassy.

Jairam Thakur swearing in ceremony today; PM Modi, Amit Shah to attend
A large number of people started gathering since morning from the home district of Mandi of Thakur on the historic Ridge ground. The BJP took nearly a week to decide on the Chief Minister after its chief ministerial candidate Dhumal lost the election.

Man dies after flat fire in Chester on Christmas Eve
Two firefighters wearing breathing apparatus entered the building and brought out a man who was found in the flat. They have opened a shelter at the First Baptist Church on East Main Street in Spartanburg for those residents.

However, Zhong cautioned that "downward pressure" on growth next year will remain due to "tightening monetary policy and strengthening oversight on local government financing".

The data support the view that the economy is beginning to gradually lose steam after growing by a forecast-beating 6.9 percent in the first nine months of the year, but the findings did not appear to suggest a risk of sharper slowdown at this point.

"Given the strong conditions evident in the manufacturing sector, it is no surprise to see that firms are upbeat about the outlook", Philip O'Sullivan, economist with Investec, said.

"Early indicators for December show China's economy pushing into 2018 with growth steady, if unspectacular", said Tom Orlik in a research note, as "the official purchasing managers' indexes show the manufacturing sector slowing slightly and the non-manufacturing sector picking up, driven mainly by construction".

The Caixin PMI focuses more on light industry, while heavy industry makes up a larger share of the NBS survey.