U S MANUFACTURING PMI DATA
UK manufacturing growth slows as shipping delays hit exports, PMI shows
While output and overall new orders grew at close to their fastest pace in two years, export orders fell for a 29th successive month, due to the shipping delays and high freight costs.
Oil holds near two-month high on higher demand outlook, possible rate cut
Exciting developments in the oil market as prices hold steady near recent highs, driven by robust demand projections and the possibility of U.S. interest rate cuts. The looming threat of Hurricane Beryl and reduced crude imports into Asia, especially China, add further intrigue to the market landscape.
Economy on strong wicket after fiscal first quarter
India's economy showed strong first-quarter performance with surging manufacturing activity, robust GST collections, and record-high Sensex, alongside a rise in passenger car sales and new export orders from overseas markets, as highlighted by industry experts and economic indicators.
Budget 2024: Will India’s robust manufacturing segment sway Sitharaman’s decisions? A look at PMI numbers
India manufacturing PMI Budget 2024 | Finance Minister Nirmala Sitharaman's upcoming Budget for 2024 is set against the backdrop of robust manufacturing PMI readings, signaling strong economic growth. The latest GDP figures for Q4 and FY24 underscore this momentum, driven by resilient manufacturing and services sectors. Amid global uncertainties, the budget aims for continuity, balancing growth and coalition priorities.
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.
Oil extends losses as strong dollar weighs on commodities markets
Oil prices fell in early Asian trade on Monday due to a stronger dollar and concerns of higher interest rates. Brent crude futures slid to $84.84 a barrel, while U.S. West Texas Intermediate crude futures were at $80.34. Geopolitical risks in the Middle East and issues in Ecuador impacted prices.
Key focus will be on US retail sales, PMI data, and Eurozone: Naveen Mathur
From gold prices to the Federal Reserve's stance on rate cuts, there's a lot happening in the world of commodities right now. In an exclusive interview with ETMarkets, Naveen Mathur, Director of Commodities & Currencies at Anand Rathi Shares and Stock Brokers, shares his insights on the current state of the commodities market and this week's trends.
Wall Street stocks end slightly higher as weak jobs data supports rate cut
U.S. stocks rose on Tuesday as labor market data hinted at a Fed rate cut. Axos Financial dropped after Hindenburg Research shorted the stock.
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.
Gold prices today: Yellow metal opens at Rs 72,160 per 10 grams, silver at Rs 92,099 per kg
Gold and silver gained after disappointing U.S. manufacturing PMI data and weakness in dollar index. In international markets, gold and silver futures settled higher.
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.
Manufacturing activity eases to a three-month low of 57.5 in May
The seasonally adjusted HSBC India Manufacturing Purchasing Managers’ Index remained four points higher than the long-run average, with exports helping drive momentum.
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.
Private sector activity gathers pace in May, job creation highest in 18 years
India's private sector activity surged in May, marking the third strongest increase since July 2010, as per a private survey. The HSBC Flash India Composite Output Index climbed to 61.7, with both manufacturing and services sectors showing robust expansion. New export orders reached their highest level since September 2014. While manufacturing activity slightly eased, services sector growth accelerated to its fastest pace in four months.
Private sector activity picks up to 61.7 in May, according to HSBC Flash PMI
The HSBC Flash India Composite Output Index rose to 61.7 in May compared with 61.5 in the previous month. “The latest data showed strength in new export orders for both sectors, which rose at the fastest pace since the series started in September 2014,” said Pranjul Bhandari, chief India economist, HSBC.
India's services sector shows strongest growth rates in around 14 years: PMI data
In April, India's services sector saw a slight moderation, but maintained strength due to robust domestic and international demand, boosting business confidence to a three-month high. Despite a dip in the HSBC Services PMI to 60.8 from March's 61.2, it remained among the fastest growth rates in nearly 14 years.
Stellar growth: India's Manufacturing PMI at 16-yr high in March
India's manufacturing sector achieved a 16-year high in March, propelled by robust growth in new orders and production, marking a stellar close to FY24. The HSBC India Manufacturing Index surged to 59.1, reflecting strong expansion across consumer, intermediate, and investment goods sectors, driven by domestic and export demand. Despite inflation concerns, confidence remained elevated.
India's March manufacturing PMI rises to 16-year high as output and orders jump to highest since October 2020
India's manufacturing sector ended FY24 with remarkable performance, as reflected in the HSBC India Manufacturing PMI hitting a 16-year high of 59.1 in March. Strong output and new orders prompted increased hiring, yet concerns over inflation caused overall sentiment to dip to a four-month low, despite optimism in certain areas.
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