China reports lowest manufacturing growth in over two years

Both overall manufacturing and the electronics sector saw slower growth in new orders new exports factory output inventory and employment level said the Singapore Institute of Purchasing and Materials Management

China's Manufacturing Sector Expands Marginally

Level 50 is the threshold between the expansion and contraction of the cycle. Moreover, October's reading reached a five-month high.

United Kingdom manufacturers continued to keep an optimistic outlook in October, with more than 48 percent expecting output to be higher one year from now.

The Caixin survey showed factory output dropped for the second straight month and was only fractionally above the neutral 50.0 level, amid weaker demand at home and overseas.

Amid reports of higher prices for chemicals, energy and metals, average cost burdens increased further. The softness in total new orders was mainly centred on the consumer goods sector, as the intermediate and investment goods categories both recorded mild growth.

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New export orders, an indicator of future activity, contracted for a fifth straight month and at the fastest pace in at least a year. Although the rate of output price inflation accelerated to the fastest since July, it remained well below that seen for input costs.

Shannon Murphy, manufacturing expert at trade credit insurer Euler Hermes, said her clients were reporting customers cutting new orders contracts from six months to three.

The U.K. economy is on course to expand by around 1.3% for the 2018 year, a much lesser rate than the 1.7% seen in 2017, due to a steep weather-induced slowdown in the first quarter according to Office for Budget Responsibility (OBR) forecasts released Tuesday. According to the statement, the leaders chose to continue with the country's "proactive fiscal policy and prudent monetary policy" while again underscoring the need to "stabilise" employment, finance, trade, foreign capital, investment and expectations.

The sub-index measuring new orders fell to 55.5 from 57.3 in September, and 60.3 in August.

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"The 25 per cent tariff rate will be activated in January. maybe the weakening of new export orders in the PMI is a warning sign of what's to come even though it hasn't been reflected yet in the hard data", said Julian Evans-Pritchard, Senior China Economist at Capital Economics.

The IHS Markit US Manufacturing PMI™ is compiled by IHS Markit from responses to questionnaires sent to purchasing managers in a panel of around 800 manufacturers.

IHS Markit (Nasdaq: INFO) is a world leader in critical information, analytics and solutions for the major industries and markets that drive economies worldwide.

The feeble performance in the vast factory sector, a major domestic and global driver of growth, backs expectations of further stimulus support from Beijing as it tries to prevent a sharp downturn for the economy.

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