Moreover, the degree of confidence strengthened to a four-month high. Looking ahead, companies were generally optimistic that output would rise over the next year. Prices data showed that input cost inflation eased to a five-month low and factory gate charges rose only slightly. Capacity pressures meanwhile persisted, with backlogs of work rising to the greatest extent since early-2011. Higher production requirements led firms to increase their buying activity, while employment fell at the weakest pace for nearly three years. Growth was supported by further, albeit slightly softer, increases in total new work and new export sales. China's Jan Caixin manufacturing PMI came at 51.5 vs 51.3 expected and 51.5 last, with the output growth hitting fresh 13-month highs in the reported month.Ĭhina’s manufacturing sector continued to expand at the start of 2018, with production rising to the greatest extent in just over a year.
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