Turkish factory activity grows for 10th straight month in December

Turkish factory activity grows for 10th straight month in December”

The performance was driven by a growth in new orders, with December's level of production the strongest in the current 17 month sequence of growth, and third-fastest in the Investec Manufacturing PMI Ireland surveys history.

The Nikkei Malaysia Manufacturing Purchasing Managers' Index (PMI) contracted to 49.9 points in December 2017 as business conditions in the sector broadly stagnated. Both new export orders and overall new business received by manufacturers increased at the quickest clip in four months, according to the survey, which is sponsored by Caixin and compiled by global information and data analytics provider IHS Markit Ltd.

A reading above 50 indicates expansion, while below reflects contraction. In breakdown, the new order index for the service sector increased slightly slower month on month to 50.9, and that for the construction sector rose at a faster pace to 58.1.

In response to greater inflows of new orders, good producers were encouraged in December to engage in input buying at the sharpest rate since August 2015.

Economists expect growth to have slowed at the end of the year as Beijing continues to reduce excess production capacity, impose environmental curbs on output and rein in frothy market activity. They also reiterated the government's top policy priorities for the next three years, which include curbing risks, especially financial risks, as well as reducing poverty and pollution.

Despite December's poor data, businesses retained positive forecasts for output over the next 12 months as manufacturers project improvement in underlying demand conditions according to anecdotal evidence.

The Caixin manufacturing PMI for December compares with a decrease in the official PMI released by the National Bureau of Statistics (NBS) on Sunday.

The manufacturing sector employed less people as the sub-index of employment dropped 0.3 percentage points month on month to 48.5 in December.

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