Global News

China manufacturing growth accelerates in November

China manufacturing growth accelerates in November

"The IMF's latest projections show global economic growth accelerating to a seven year high of 3.7pc in 2018, so given the extent to which the Irish economy is leveraged to worldwide developments we believe that manufacturers here are right to feel confident about the future", Mr O'Sullivan said.

The Nikkei Philippines Manufacturing Purchasing Managers' Index, or PMI, rose to 54.8 in November from 53.7 in October.

The U.K. economy has slowed markedly this year as inflation, which accelerated sharply after the pound's steep post-Brexit depreciation, began to outpace wages and squeeze consumers-a key engine of growth.

A reading greater than 50 indicates growth of the sector, while a reading below 50 signals a contraction.

The European Commission's gauge of British factory orders hit a 29-year high last month - but this was not enough to prevent a drop in wider economic sentiment caused by a slowdown among services firms.

Reports also sugest that new orders for investment goods jumped at the quickest rate since 1994, and companies reported continuing support to exports from the droopy sterling exchange rate, although the report's compilers say mentions of this "were less prevalent than earlier in the year".

India's factory activity quickened in November at the fastest pace since just before the government's surprise cash clampdown late previous year, driven by a surge in new orders, a business survey found.

While higher foreign demand contributed, the domestic market remained the key driver as growth in new export orders was well below that of total new business inflows.

But price pressures represented a downside in the latest PMI.

The Reserve Bank of India is likely to keep interest rates steady at its policy meeting next week, with stronger inflation expectations leaving it little room to ease, a recent Reuters poll of economists showed.