Man­u­fac­tur­ing PMI hits global peak

China Daily (Canada) - - BUSINESS -

Ac­tiv­ity in the global man­u­fac­tur­ing sec­tor hit a 34-month high in De­cem­ber, in growth that was gen­er­ally led by the United States and Western Europe, ac­cord­ing to a sur­vey re­leased byMarkit Eco­nomics on Tues­day. The J.P.Mor­gan Glob­alMan­u­fac­tur­ing PMI rose for the fourth straight month to 52.7 in De­cem­ber, up from 52.1 in Novem­ber, its high­est level since Fe­bru­ary 2014. A read­ing above 50 in­di­cates an ex­pan­sion, while one be­low that level points to a con­trac­tion. 2016, the high­est level since July 2013, of­fi­cial data showed on Tues­day. Ac­cord­ing to the pro­vi­sional results of the federal sta­tis­ti­cal of­fice Des­tatis, the in­fla­tion rates in Oc­to­ber and Novem­ber were re­spec­tively 0.8 per­cent. Des­tastis said the main rea­son for the in­crease in con­sumer prices in De­cem­ber was the rise of house­hold en­ergy and mo­tor fu­els costs, which were 2.5 per­cent more ex­pen­sive than in De­cem­ber 2015. On av­er­age, the in­fla­tion rate in 2016 was ex­pected to be 0.5 per­cent, 0.2 per­cent more than the in­dex in 2015, Des­tatis re­ported, based on the results avail­able so far. from a month ear­lier, ac­cord­ing to the Bank of Korea. The for­eign cur­rency as­sets, owned by the BOK, kept a down­ward mo­men­tum for the third con­sec­u­tive month as the dol­lar ap­pre­ci­ated on the ex­pected US in­ter­est rate hikes. The strong dol­lar re­duced the con­ver­sion value of non-dol­lar as­sets. 28 and Dec 9 of a com­bined 199 fi­nan­cial in­sti­tu­tions in­clud­ing banks.

Newspapers in English

Newspapers from China

© PressReader. All rights reserved.