MAY FACTORY SURVEY
Women in India face a jobs crisis. Are factories the solution?
As international brands limit their dependence on China by shifting some manufacturing to India, the trend holds the potential to generate significant numbers of manufacturing jobs - especially for women, who have largely been excluded from the ranks of formal Indian employment.
In solidarity with their solitary kids
While their children's voluntary solitary confinement is befuddling, one also wonders why parents need to go through the same gig. They could try and 'understand' their state of mind, not the reaction to it.
Record upturn in job creation drives India's manufacturing PMI to 58.3 in June
Activity in India's manufacturing sector rebounded last month with an increase in output driven by robust demand, leading to the fastest rate of hiring in over 19 years despite ongoing inflationary pressures, according to a survey.
Asia's factory activity expands in June on solid global demand
The surveys show how Chinese firms are ramping up production despite weak domestic demand, which Beijing has failed to reverse with a rescue package for an ailing property sector.
China's June factory activity contracts again, services slows
China's economic indicators for June painted a challenging picture, with manufacturing activity stagnating and services slipping to a five-month low, according to an official survey released on Sunday. The Purchasing Managers' Index (PMI) remained unchanged at 49.5, below the growth threshold of 50, indicating ongoing economic struggles despite some positive signals in industrial production. Analysts noted that while exports have been a strong driver, both domestic and external demand remain insufficient to fully utilize China's manufacturing capacity, prompting calls for additional policy support to stimulate growth.
India's roaring growth may not change the story of its great divide, finds economists' poll
A nearly 85% majority of development economists and policy experts, 43 out of 51, in a May 15-June 18 Reuters poll, said they were not confident economic inequality would significantly reduce over the next five years, including 21 who said they had no confidence at all.
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US manufacturing production surges 0.9% in May; beats monthly expectations
In May, production at U.S. factories rebounded more than anticipated, recovering from declines in the previous two months. However, sustained momentum is unlikely due to rising interest rates and weakening demand for goods. According to the Federal Reserve's report on Tuesday, manufacturing output surged by 0.9% last month, following a downward revision showing a 0.4% decline in April.
China's exports grow 7.6 per cent in May, beating expectations despite trade tensions
Exports rose due to a lower base from last year, with a trade surplus widening to USD 82.62 billion in May.
China's exports grow 7.6% in May, beating expectations despite trade tensions
In May, China's exports surged by 7.6% year-on-year to $302.35 billion, surpassing expectations, despite ongoing trade tensions. Imports, however, grew only by 1.8%, missing forecasts of 4% growth. This led to a widened trade surplus of $82.62 billion. The rise in exports is partly due to a low base from last year.
India's services sector softens to five-month low in May: PMI report
India's services growth slowed to a five-month low in May due to weaker domestic demand, despite record export growth and a 21-month high in job creation. The services PMI fell to 60.2 from 60.8 in April. Input costs rose, intensifying price pressures and possibly delaying interest rate cuts by the RBI.
China's manufacturing surges, Caixin PMI shows, but global risks grow
To counter soft domestic demand and a years-long property crisis, China has boosted infrastructure investment and ploughed funds into high-tech manufacturing to bolster the broader economy this year.
Rising heat cools mfg PMI to 3-mth low as input costs bite
Manufacturing activity decreased to 57.5 in May from 58.8 in the previous month due to heatwaves and rising costs, as per a private survey by HSBC. The sector saw a softer rise in new orders and output, impacting work hours and production volumes for manufacturing firms.
US factory activity slips for a second month in May, ISM says
US manufacturing activity slowed in May with new goods orders dropping significantly. Input inflation fell from mid-2022 highs.
Asian factory activity expands in May on robust global demand
Manufacturing activity in Asia showed growth in May according to private surveys released on Monday, fueled by increasing global demand. This development adds to optimism for a continued economic recovery in the region, particularly with China displaying initial signs of resurgence.
China's factory activity growth hits 2-year high, Caixin PMI shows
The Caixin/S&P Global manufacturing PMI rose to 51.7 in May from 51.4 the previous month, marking the fastest pace since June 2022 and beating analysts' forecasts of 51.5. The 50-point mark separates growth from contraction.
China's factory activity unexpectedly contracts in May
China's manufacturing activity fell in May, with the official factory survey showing a decline. Calls for fresh stimulus persist due to the ongoing property crisis impacting businesses, consumers, and investors.
China's factory, services activity growth slows in April
The official purchasing managers' index (PMI) dropped to 50.4 in April from 50.8 in March, above the 50-mark separating growth from contraction, and beat a median forecast of 50.3 slightly in a Reuters poll.
Factories around the world are slowly cranking into gear again
The nascent industrial recovery is led by the world’s two biggest economies. Chinese manufacturing has made a strong start to the year, boosting the economic outlook, and US factory activity unexpectedly expanded last month for the first time since September 2022, buoyed by rising new orders and a jump in production.
China's March factory activity expands for first time in six months
China's manufacturing activity saw growth after six months in March, as per the official purchasing managers' index, rising to 50.8 from 49.1 in February. The non-manufacturing PMI also increased to 53 from 51.4, while the composite PMI stood at 52.7, indicating positive trends.
China manufacturing slump weighs on Asia factory activity
Japan’s PMI also fell to 47.2 from 48, dragged down by its sharpest decline in exports in 11 months, according to data published by au Jibun Bank.
China's factory activity picks up on expansion in output, orders, Caixin PMI shows
The world's second-biggest economy has been mired in a low-growth trajectory since the end of COVID curbs in late 2022, as a debt crisis in the property sector as well as low demand at home and abroad have dragged on broader activity. Friday's Caixin PMI provided some bright spots, with output growing at the fastest pace since May 2023 despite an eight-day Lunar New Year break shutting most factories temporarily in mid-February.
Global factory check-up is about to reveal extent of nascent recovery
A recent uptick in a global index of manufacturing — to the highest level since mid-2022 — has spurred expectations the sector has reached a turning point after a broad consumer shift away from purchases of goods in favour of services.
Dollar falls after weak US services sector data, gives up post-employment gains
The dollar index fell 0.4% to 102.0 after hitting 103.10 following the stronger-than-expected jobs report. That was the highest since mid-December. On the week however, the dollar gained 0.6%, on pace for its best weekly rise since early December.
Factory activity hits 18-month low in December as orders shrink; optimism rises to a three-month high
The HSBC India purchasing managers’ index of manufacturing eased further to 54.9 in December compared with 56 in the previous month. However, the easing had no impact on optimism, as the year-ahead outlook rose to a three-month high.
China factory activity posts worst contraction in six months
The official manufacturing purchasing managers index declined to 49, the National Bureau of Statistics said in a statement on Sunday.
China factory activity contracts in November for 2nd straight month despite stimulus measures
Chinese manufacturers' factory activity contracted for a second consecutive month in November, indicating weak demand despite stimulus measures. The official manufacturing purchasing managers' index fell to 49.4, slightly down from October's 49.5. The index has fallen in seven of the past eight months, with an increase only in September.
Asia factories grapple with high costs amid Israel-Hamas war
Many Asian countries reported pressures due to cost inflation, dwindling output and new orders. The data is not an encouraging sign for the global economy.
China's factory activity unexpectedly contracted in October
The official purchasing managers' index (PMI) fell to 49.5 in October from 50.2, dipping back below the 50-point level demarcating contraction from expansion. The reading missed a forecast of 50.2.
Foxconn may set up EV factory in India this year; ChrysCapital invests $100 million in Lenskart
Ending the week with a bang (and not a whimper) is this big piece of news: iPhone maker Foxconn is in talks with some Indian states to set the ball rolling regarding its plans to manufacture electric vehicles in India, sources have told us. Because the car is the new device? This and more in today’s ETtech Morning Dispatch.
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