Philippine manufacturers-apparently affected by the martial-law declaration and contraction in overseas demand-showed less optimism to grow their business in July based on the country's latest Purchasing Managers' Index (PMI) that fell to its lowest level since January, Nikkei and worldwide think tank IHS Markit reported.
Manufacturing activity across the USA reached a four-month high in July as output increased and new orders rebounded, according to a report Tuesday.
According to the survey, the rate of input cost inflation moderated and was the weakest since June 2016 as some panellists reported falling market prices.
Economists have said that the sharp rise in the indicator was caused by "strong inflows of new work". Business confidence was also a positive feature of the survey, hitting a 39-month high.
Activity at large factories gathered steam in July, with the sub-index for big manufacturers rising to 52.9 from 52.7. Both Caixin and the National Bureau of Statistics, which released the official data, declined to comment.
Any levels above 50 indicates an expansion, while levels below 50 denotes contraction.
Chen Zhongtao, an analyst with China Logistics Information Center, called the July reading a seasonal fluctuation.More news: The World's Longest Suspension Footbridge Is 1600 Feet of Pure Vertigo
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The Caixin manufacturing gauge contracted unexpectedly in June.
"Euro zone factories were buzzing with activity again in July", said Chris Williamson, chief business economist at IHS Markit.
The slower increase in new sales was matched by a similar trend in production and resulted in a slower employment growth during the month.
The PMI reading for manufacturing was lower than a preliminary estimate of 55.4 but well above the 50-point line dividing expansions in activity from contractions.
Official PMI data released Monday came in below expectations.
On the whole, while China's manufacturing sector has remained resilient, companies' outlook has now worsened or held steady since hitting a almost two-year high in February. "If this trend of milder price pressures is also reflected in other areas of the United Kingdom economy, this should provide the Bank of England sufficient leeway to maintain its current supportive stance until the medium-term outlook for economic growth becomes less uncertain", Rob Dobson, an IHS Markit economist, said.