British manufacturing sector feels weight of Brexit uncertainty - USA

British manufacturing sector feels weight of Brexit uncertainty - USA

Civil engineering rose at the strongest pace since July 2017 while house building and commercial construction both increased at solid rates in October. Compared to the 12-month average of 59.2, the October PMI is 1.5% below the average.

"Vietnamese manufacturers allayed fears of a protracted slowdown with strong rises in output, new orders and employment all recorded in October", said Andrew Harker, Associate Director at IHS Markit, which compiled the survey.

A slowdown in housebuilding across the United Kingdom has put a drag on the construction industry's recovery, according to figures that also showed new orders across the sector had slowed.

In response, manufacturers increased their prices, with the rate of charge inflation hitting a five- month high.

British manufacturers have suffered one of their worst months since the UK's decision to leave the European Union in June 2016, according to a survey.

Growth in new business received by goods producers accelerated to the fastest since January amid reports of new client acquisitions and new product launches.

Last week, the Monetary Authority of Singapore said in its half-annual macroeconomic review that the negative spillovers of global trade tensions could impact the country in the latter part of this year and beyond.

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Manufacturing supply and demand fluctuated in October because of the National Day holiday and a complex, changeable external environment, and so manufacturing PMI fell from a month ago, but is still growing.

Key to the manufacturing sector regaining growth momentum was a faster increase in output in October.

Firms continued to report stock shortages at vendors.

"China's economy has not seen obvious improvement", he said. Competition for some scarce raw materials also rose, causing further increases in input prices and weaker stock accumulation.

The CBN data show that the production level index for the manufacturing sector grew for the twentieth consecutive month in October to 58.9 points from 58.4 points in September.

The non-manufacturing business activity index is still high, though it too fell from a month ago, showing the non-manufacturing sector also still expanding, but more sluggishly, Zhao said.

PMI surveys measure changes in industry activity by asking respondents to rate conditions for employment, production, new orders, prices, deliveries and inventories. "Until firms have more clarity about what a future relationship with the European Union looks like, investment levels are likely to continue to flatline and confidence will remain low", she said. "Others focussed more attention on rising global trade tensions and weaker demand from the world autos sector", IHS Markit says.

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