Manufacturing sector shows record growth in December

Lucy Bush
January 2, 2018

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".

"In the details, output and new orders sub-indexes were both down slightly but still robustly in expansionary territory".

The survey found production and new orders were only slightly lower than in November but at 54 and 53.4 showed steady growth. It was the first slowdown in growth since early 2016.

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Resulting from improved demand conditions, Indian manufacturers upped their staffing levels at the end of the year. The pace of job creation was the strongest since September.

In response to greater inflows of new orders, good producers were encouraged in December to engage in input buying at the sharpest rate since August 2015. Delivery time increased for 11 consecutive months.

China's manufacturing sector continued to expand in December, pointing to economic resilience in the country's factory sector. Although the rate of inflation quickened to a 10-month high, it was modest and weaker than the long-run series average.

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Poland's manufacturing activity expanded at the fastest pace in almost three years in December, survey data from IHS Markit showed Tuesday. The official PMI dropped to 51.6 from 51.8 in November, as more companies complained about the impact on their operation from tightened supply of energy and other raw materials and rising costs of transportation.

Moreover, as consumer spending recuperated, firms were restricted in their ability to pass on higher cost burdens to clients which further placed upward pressure on firms' margins.

"Challenges remain as the economy adjusts to recent shocks, but the overall upturn was robust compared to the trend observed for the survey history".

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"Manufacturing operating conditions improved in December, reinforcing the notion that economic growth has stabilized in 2017 and has even performed better than expected", Zhengsheng Zhong, an economist at CEBM Group, said in a statement accompanying Tuesday's release.

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