India factory activity unexpectedly expands in August as orders bounce back

China Factory Growth Accelerates, Service Industries Slip

Manufacturing in India bounced back in August from previous month's GST-related contraction amid resumed growth in new orders, production and employment, a survey said on Friday.

The UK's manufacturing industry smashed expectations in August, after data showed activity in the sector jumped to a four-month high.

Furthermore, the rise in client demand was broad-based, with new export orders also increasing in August for the first time in 12 months.

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The index for new export orders was also revised down to 51.3 from a flash reading of 52.2.

Manufacturing output declined to 54.3 from 56.3, though some survey respondents reported having a greater number of projects in the pipeline.

United Kingdom manufacturing activity surged in August, according to data released by IHS Markit Friday, with sentiment among businesses across the industry hitting a three year peak during the recent month.

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The stronger performance of the manufacturing sector filtered through to the labor market in August. The pick-up in new business was generally more modest than in China, however, suggesting its economic growth may moderate from an eye-popping 4% annualized rate in the second quarter. "Business conditions improved across the three main subsectors - consumer, intermediate and investment goods - and at smaller and large-scale producers alike", says Dobson.

Greece's jobless rate stood at 21.7 percent in May, the highest in the euro zone.

The manufacturing PMI rose by 0.5 points to 51.6 in August, the second highest reading of activity this year and the third consecutive month it has expanded after a period of softness earlier in the year. Consequently, output prices rose at a solid pace that was the fastest in 2017 to date.

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Markit said the breadth of expansion made it look more likely that United Kingdom manufacturing would continue to grow over the second half of the year.

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