Spain's Manufacturing Sector Growth Accelerates

Ann Santiago
October 3, 2017

Meanwhile the Pound may relinquish some ground again tomorrow with the release of the UK's latest Construction PMI, as economists forecast the index will have slipped from 51.1 to 50.8 last month.

During their annual review, our clients are telling us they are continuing to see growth from both new and existing customers and exporting more product than ever before.

Manufacturing output rose further at the end of the third quarter.

The Pound is treading water in early trading Monday as markets await September's reading of Britain's industrial pulse, the IHS Markit manufacturing PMI, which is expected to show activity among United Kingdom manufacturers cooling a touch during the month.

"Despite the decrease in payroll numbers, capacity continues to be in abundance, which would weigh on hiring in the near future", Aw noted.

Input price inflation quickened to the highest rate in five months due to higher raw material costs, the survey showed.

Positive outlook Confidence in United Kingdom manufacturing is also high, with over 51 percent of manufacturing companies surveyed expecting further growth in production over the next 12 months.

Malaysian manufacturers continued to raise their staffing levels despite the ongoing decline in new work. Aw added, referring to the peso's persistent weakness against the greenback.

IHS Markit director Rob Dobson said rising cost pressures are likely to impact company profit and could disrupt production in the short term.

In August, Poland's PMI inched up to 52.5 from 52.3 in July. The increase in input costs was the strongest since May 2011. Respondents also reported a rare spike in exports of construction-related products for emergency relief and reconstruction in the United States following recent hurricane damage.

Guian Angelo S. Dumalagan, Land Bank of the Philippines market economist, noted that "o$3 ne thing surprising about the report though is that exports provided minimal boost to the overall manufacturing sector, despite depreciation of the peso and the general improvement in economic conditions overseas".

"I still expect Philippine manufacturing to grow in 2017, especially as more and more investments are anticipated from the government's thrust of increasing infrastructure spending plus the impact of further tax reform when corporate taxes are eventually adjusted to be comparable regionally", added Mr. Dumalagan.

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