Manufacturing growth hits highest level in 18 years

02 December, 2017, 01:10 | Author: Terri Saunders
  • Turkish manufacturing grows for nine consecutive months

Activity in the United Kingdom manufacturing sector picked up in November, hitting its highest level since August 2013, according to data released on Friday.

Financial information firm IHS Markit Ltd. said its purchasing managers index for the manufacturing industry, jumped to 58.2 in November, up from the upward-revised reading of 56.6 a month earlier.

"In the fourth quarter, the economy is likely to maintain the stability observed since the start of the second half of the year. The IMF's latest projections show global economic growth accelerating to a seven year high of 3.7pc in 2018, so given the extent to which the Irish economy is leveraged to worldwide developments we believe that manufacturers here are right to feel confident about the future", Mr O'Sullivan said.

The latest survey also showed busy manufacturers were increasingly facing cost pressures caused by supply chain bottlenecks.

BJP clean sweeps UP civic polls, wins 14 out of 16 seats
Officials said no procession would be allowed during the counting process and following the announcement of the results. The BJP's Ramtirth Singhal won the Jhansi seat, defeating Brijendra Kumar Vyas of the BSP by a margin of 16,373 votes.


Samuel Tombs, chief United Kingdom economist at Pantheon Macroeconomics, said: "UK manufacturers are being swept along by the Eurozone's resurgence - the single currency area's PMI increased to 60.1, from 58.5 in October - but remain cautious about the outlook".

A PMI survey of the services sector is due to be published on Tuesday.

Still, the British PMI was not as strong as the euro zone's and export orders grew faster in other major European economies - suggesting the pound's fall since last year's Brexit vote has yet to give British factories a big advantage. The final figure, which was in line with a flash reading released last week, was well above the 50 line that separates growth from contraction. There were also reports that the historically weak sterling exchange rate continued to boost export competitiveness.

On the price front, input price inflation accelerated to an 8-month high in November, mainly driven by higher prices for steel and paper. Investment goods new orders, in particular, were strong and increased at the fastest pace since August 1994.

Recommended:



Popular

Germany has a message for Mexico following World Cup draw
The big draw takes place on FridayWhen is the draw? Host Russia ended up in Group A , along with Uruguay , Egypt and Saudi Arabia. Germany opens against Mexico in its quest to become the first country to win back-to-back World Cup titles since Brazil in 1962.

Pope Francis arrives in Bangladesh
Thousands of Catholics from different parts of the country attended the mass prayer seeking harmony and peace in the world. The violence escalated late August, when the military responded to an attack by Rohingya militants with a heavy crackdown.

More Qantas/Jetstar relief flights on the way to Bali
The worldwide airport on the neighbouring resort island of Lombok, which was closed on Thursday, reopened on Friday morning. Only those booked to fly to Amsterdam on KLM's normal daily flight are legally entitled to a duty of care from the airline.

Farenthold Used Taxpayer Funds to Settle Sexual Harassment Claim
News of the $84,000 payout comes amid reports earlier this week that another lawmaker, Dallas-area U.S. Farenthold avoided answering whether the settlement was related to him.

RBS Shuts 259 British Branches as It Expands E-Banking
As a customer, you might be wondering whether it's worth the extra mileage to get to the next nearest branch remaining open. The closures and job cuts follow similar moves by Lloyds and Yorkshire Building Society earlier this week.

Bigg Boss 11, Day 61 written updates: DJ Vikas wins captaincy
Later, Bigg Boss asks the contestants to nominate contestants for jail and Hina is the first to nominate Bandagi and Puneesh. Vikas tells her that he won't reconcile with her, but Arshi tells him that she didn't understand him, and now she does.

Sabrina the Teenage Witch Is Heading to Netflix With 20-Episode Order
Television's Berlanti Productions, which is producing Sabrina for Netflix, has most of its scripted series airing over on The CW . As Deadline points out, the shift from The CW to Netflix is likely a response to Riverdale's popularityon the streaming service.

Burqa-clad Taliban terrorists attack college in Pakistan, at least five wounded
Those injured in the attack include a gatekeeper, journalist of a Channel-24 channel, two students among others. Generally, there are around 400 students at the hostel, but because of the holiday there were only 150 present.

No Surprise, Stranger Things Renewed For Third Season
Catch up on " Stranger Things " Season 1 and 2 on Netflix now before Season 3 sneaks up on you. It felt totally unnecessary, when we had the Snow Ball .

A German Christmas market was evacuated after police found an explosive device
The object was reportedly planted on a children's carousel located at the Christmas market, local media report. A German security official has since confirmed that the package contained "nails and a powder".