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lakeelmoleader.com January 20, 2018


Eurozone Factory Growth At Record High

02 January 2018, 11:54 | Frank Carlson

Eurozone Factory Growth At Record High

Operating conditions for manufacturing best in 5 years during December: Nikkei PMI

The IHS Markit/CIPS UK Manufacturing Purchasing Managers' Index (PMI) dropped to 56.3 from 58.2 in November, at the bottom end of forecasts in a Reuters poll of economists that had pointed to a reading of 58.0.

Still, the index remained comfortably above the 50-point mark that separates growth from contraction, with numbers above 50 indicating expansion. The December figure was the highest reading since August.

The World Bank last month raised its projection for China's gross domestic product (GDP) past year to 6.8%, up from its October estimate of 6.7%, citing support from strong exports and robust domestic household consumption.

On the back of the stronger customer demand, the employment growth also surged to a record high, while the quality of purchases accelerated to the joint-fastest since February 2011.

Analysts also expect that manufacturing growth will also be affected in the coming months by restrictions on factory production in some areas and especially in heavy industries to reduce pollution.

New Year's Eve wind chill in Detroit forecast below zero
Thursday and through the weekend, high pressure in the upper-levels will take over and a warming trend will take over. Boston hovers around 5 degrees at midnight and not that far off the record low of -3 the morning of New Years Day .

"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".

The PMI showed steep increases in output, new orders and exports. The pace of job creation was the strongest since September.

"Manufacturing operating conditions improved in December, reinforcing the notion that economic growth has stabilized in 2017 and has even performed better than expected", said Zhong Zhengsheng, director of macroeconomic analysis at CEBM Group, a subsidiary of Caixin Insight Group.

Finally, optimism amongst panelists remained elevated during December. Factory activity, which has been riding a global tech boom, contracted in December, dropping from a 4-1/2 year high in November, the Nikkei/Markit survey showed. The level of new contracts received from overseas - mainly from Asia, the United States and Europe - rose at the fastest rate in the history of the survey.

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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