Latest news with #ManufacturingPurchasingManagers'Index
RTÉ News
4 days ago
- Business
- RTÉ News
Euro zone manufacturing approached stability in July as PMI hits three-year high
Euro zone manufacturing moved closer to stabilisation in July as factory activity contracted at its slowest pace in three years, despite a dip in new ordersand slower output growth, a survey showed. The HCOB euro zone Manufacturing Purchasing Managers' Index, compiled by S&P Global, edged up to 49.8 in July from 49.5 in June, reaching its highest level since July 2021. That matched a preliminary estimate and was only a whisker away from the 50 mark separating growth from contraction. Factory output grew for the fifth consecutive month but at a slower pace with the output index easing to 50.6 from 50.8, marking a four-month low. "Manufacturing in the euro zone is cautiously regaining momentum. With the newly agreed trade framework between the EU and the US, uncertainty should decline, and the signs point to a continued upward trend in the coming months," said Cyrus de la Rubia, chief economist at Hamburg Commercial Bank. The US struck a framework trade agreement with the European Union on Sunday, imposing a 15% import tariff on most EU goods. Germany, Europe's largest economy, saw its manufacturing PMI rise to a 35-month high of 49.1, though still indicating contraction. France and Austria tied as the worst performers with identical readings of 48.2. Among euro zone countries, Ireland led manufacturing performance with a PMI of 53.2 although this represented a two-month low. The Netherlands and Spain both recorded 51.9, marking 14-month and seven-month highs respectively. Greece maintained its growth streak at 51.7. New orders declined marginally as export sales proved a drag following their brief stabilisation in June. Price pressures remained largely absent in July, with input costs unchanged following three months of declines, while output prices showed virtually no movement. The European Central Bank left interest rates unchanged last week and offered a modestly upbeat assessment of the currency union's economy. Business confidence regarding future output remained above the long-term average in July, though it retreated from June's 40-month high, suggesting manufacturers maintain a cautiously optimistic outlook for the year ahead.
India.com
02-08-2025
- Business
- India.com
India waited for 16 months to achieve this goal, now Pakistan, China will have sleepless nights due to...
India waited for 16 months to achieve this goal, now Pakistan, China will have sleepless nights due to... India's manufacturing sector grew strongly in July, reaching its highest level in 16 months, thanks to a rise in production and new orders. This was shown in a private survey released on Friday. However, despite the good growth, companies are feeling less confident about the future because of worries about rising competition and inflation. The HSBC India Manufacturing Purchasing Managers' Index (PMI), prepared by S&P Global, rose to 59.1 in July, up from 58.4 in June. In the earlier months, the PMI was: 57.6 in May 58.2 in April 58.1 in March 56.3 in February 57.7 in January According to the survey, companies bought more raw materials in July, almost the same as in June. However, hiring slowed down, hitting its lowest point since November 2024. Most importantly, business confidence, how hopeful companies feel about the future, dropped to the lowest level in the last three years. What is the PMI Index? PMI stands for Purchasing Managers' Index. It is an economic measure that shows whether the manufacturing sector is growing or slowing down. A score above 50 means the sector is growing. A score below 50 means the sector is shrinking. Growth driven by strong orders and higher output According to Pranjul Bhandari, Chief India Economist at HSBC, this growth is mainly due to more new orders and higher production. In fact, the overall sales in July grew at the fastest pace in the last 5 years. This shows that manufacturing companies in India are feeling confident and are planning to increase their production in the coming 12 months. According to HSBC's latest survey, India's manufacturing sector grew at its fastest pace since March 2024. The month of July saw strong growth in production and sales, driven by higher demand both in India and abroad. Total sales saw a big jump, thanks to more new deals and increased domestic orders. Exports also grew slightly, adding to the momentum. Rising costs still a challenge The report also pointed out some concerns. The cost of raw materials has gone up sharply, especially items like: Aluminium Leather Rubber Steel Because of this, both production costs and final product prices have increased. Many companies had to raise prices due to high demand. However, so far, this hasn't reduced customer demand. The survey shows that most manufacturing companies expect even stronger growth in the coming months. However, the overall confidence is a bit lower compared to the last three years. How is the PMI Data Collected? The HSBC India Manufacturing PMI is prepared by S&P Global. It is based on the responses of about 400 manufacturing companies. These companies are asked questions related to: New orders Production levels Staffing (hiring) Pricing Inventory (stock levels)
The Star
01-08-2025
- Business
- The Star
Britain's manufacturing contraction eases in July but outlook remains weak
LONDON, Aug. 1 (Xinhua) -- Britain's manufacturing downturn showed signs of easing in July, with the seasonally adjusted Manufacturing Purchasing Managers' Index (PMI) rising to a six-month high of 48, according to data released by S&P Global on Friday. The July PMI was slightly higher than 47.7 in June, but the index has now signalled contraction for ten consecutive months. S&P Global noted that risks persist, including fragile domestic and overseas market conditions, subdued consumer confidence, and manufacturers' ongoing concerns about costs. Market conditions remained subdued in July as British manufacturers reported weak spending willingness and low confidence at home and abroad. Rob Dobson, director at S&P Global Market Intelligence, said although the UK manufacturing sector is starting to send some tentatively encouraging signals, there's no assured path back to strong growth. Domestic clients are unwilling to spend due to cost rises triggered by higher minimum wages and employer national insurance contributions, while export markets are being buffeted by geopolitical stresses as well as trade and tariff uncertainties. The data also showed that new export orders have decreased over the past three and a half years. Additionally, the sector faced a weak labor market in July. The company attributed this to a combination of weak demand, rising staff costs, and subdued market confidence. Job losses were recorded for the ninth month in a row, with the pace of reductions over the past six months ranking among the sharpest since 2020, when the country was hit by the COVID-19 pandemic.
Hans India
01-08-2025
- Business
- Hans India
India's manufacturing PMI rises to 16-month high in July despite global uncertainties
New Delhi: India's manufacturing sector gained momentum in the month of July as Purchasing Managers' Index (PMI) rose to a 16-month high of 59.1, up from 58.4 in June, despite global uncertainties and US tariffs, according to data released by S&P Global on Friday. The HSBC India Manufacturing Purchasing Managers' Index (PMI) climbed to a 16-month high of 59.1, driven by strong gains in new orders and output, though business sentiment and hiring momentum showed signs of moderation. 'India recorded a 59.1 manufacturing PMI in July, up from 58.4 during the prior month. This marked a 16-month high for the sector, which benefited from strong growth in new orders and output,' said Pranjul Bhandari, chief India economist at HSBC. 'At the same time, however, business confidence fell to its lowest level in three years due to concerns over competition and inflation,' Bhandari added. India's manufacturing sector remains on a strong footing entering the second half of FY25. The sustained manufacturing resilience comes on the back of robust domestic demand and continued output expansion. India's private sector showed robust growth in July, fuelled by strong manufacturing and global demand. The headline HSBC Flash India Composite PMI Output Index, compiled by S&P Global, rose to 60.7 in July from 58.4 in June. International orders received by private sector firms in India rose sharply at the start of the second fiscal quarter (Q2 FY26). The Indian companies remained optimistic about output growth over the next 12 months. There is a firm pick-up in employment, especially in the service sector, suggesting healthy job creation accompanies the expansion of both India's manufacturing and service sectors. Meanwhile, India is projected to see 6.4 per cent GDP growth in FY26 and FY27, with both numbers revised slightly upward, reflecting a more benign external environment than assumed in the April reference forecast, according to the International Monetary Fund's (IMF) World Economic Outlook (WEO). The IMF revised upwards its outlook for India's GDP growth for the current fiscal by 20 basis points (bps) to 6.4 per cent. The global agency also revised upwards its growth forecast for FY27 by 10 bps to 6.4 per cent.
News18
01-08-2025
- Business
- News18
India's Manufacturing Growth In July 2025 Hits 16-Month High On Robust Demand: PMI Data
Last Updated: The HSBC India Manufacturing Purchasing Managers' Index rises to 59.1 in July from 58.4 in June, well above the 50-mark separating growth from contraction. PMI Manufacturing For July 2025: India's manufacturing activity grew at its fastest pace in 16 months in July 2025, boosted by strong demand and robust new orders, according to a private survey released on Friday. The HSBC India Manufacturing Purchasing Managers' Index, compiled by S&P Global, rose to 59.1 in July from 58.4 in June, slightly below a preliminary reading of 59.2. The index remained well above the 50-mark separating growth from contraction. Growth was driven by a sharp surge in new orders, which rose at the fastest rate in nearly five years, thanks to 'favourable market conditions and effective marketing efforts". This, in turn, pushed output growth to a 15-month high. International demand also contributed, though export order growth moderated after hitting a 17-year high in June. However, despite the robust performance, business confidence dipped as companies cite mounting competition and inflation concerns as key challenges. Business confidence among manufacturers dropped to a three-year low. The level of optimism among manufacturers fell to its lowest since July 2022, with many companies highlighting mounting competition and inflation concerns as key challenges. Adding to the caution, a recent Reuters poll of independent economists flagged persistent concerns over job creation. Although the official unemployment rate stood at 5.6% in June, some economists have raised questions over the methodology used in the government's labour data. Inflation pressures also re-emerged in July. Input costs rose more sharply as firms faced higher prices for certain raw materials. Companies responded by raising selling prices for the 10th consecutive month, taking advantage of strong demand to pass on cost pressures. The Reserve Bank of India (RBI) is expected to keep the key repo rate at 5.50% in its upcoming meeting. However, any acceleration in inflation could prompt a re-evaluation of the current monetary stance. Further uncertainty looms on the trade front as US President Donald Trump is set to impose 25% tariffs on Indian goods starting Friday, a move that could weigh on the country's export performance in the coming months. view comments Disclaimer: Comments reflect users' views, not News18's. Please keep discussions respectful and constructive. Abusive, defamatory, or illegal comments will be removed. News18 may disable any comment at its discretion. By posting, you agree to our Terms of Use and Privacy Policy.
