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Manufacturing sector contracts for third month in a row, index shows

02 September 2017

Size was no barrier to success, either, with growth reported across all sectors and amongst SMEs and large-scale manufacturers alike.

The overall health of India's manufacturing sector improved in August due to resumed growth of new orders, production and employment, a key macro-economic data showed on Friday.

Output in Britain's manufacturing industry unexpectedly pushed to a four-month high in August thanks to a jump in new work.

Sterling - which is around 13% lower than its pre-referendum level against the dollar - has been a key driver of the resurgence in the United Kingdom manufacturing sector since last June, and that remained the case in August, IHS Markit said.

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The domestic market was the prime source of new contract wins, while the trend in new export business also remained robust.

However, s terling's slump has proved a double-edged sword for manufacturers, fuelling demand by making British goods cheaper on global markets while ramping up import costs.

The central bank has cut the benchmark Selic interest rate aggressively to protect the fragile recovery, with 12-month inflation at its lowest in eighteen years.

"Indeed, the UK's PMI remained below the eurozone's (57.4) for the fourth consecutive month".

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Sample differences and uneven regional performances may explain the divergence between private and official manufacturing data, according to a report by China International Capital.

All five of the manufacturing PMI subcomponents rose in August.

The pick up in growth was driven by a solid increase in new business, the sharpest since May 2014, with export orders also rising for the first time in a year, Reuters reported.

It came as household spending slumped to its lowest level in almost three years following a slowdown in new auto sales and persistent pressure from higher inflation.

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Manufacturing sector contracts for third month in a row, index shows