Free Newsletters - Space - Defense - Environment - Energy - Solar - Nuclear
..
. Earth Science News .




POLITICAL ECONOMY
Asia manufacturing picks up but data points to headwinds
by Staff Writers
Hong Kong (AFP) Nov 01, 2013


Asian manufacturing picked up pace in October, figures showed on Friday, with Chinese activity at an 18-month high but analysts warned that background data indicates fresh headwinds in the coming months.

The broad pick-up will come as good news for the region after a tough few months caused by uncertainty over the US Federal Reserve's stimulus scheme -- which has supported investment in emerging nations.

China provided the stand-out data, with the official purchasing managers' index (PMI) hitting 51.4 last month from 51.1 in September.

The reading from the National Bureau of Statistics (NBS), is the highest since 53.3 in April 2012. Anything above 50 indicates expansion while a figure below signals contraction.

Also Friday, British bank HSBC said its PMI had hit a seven-month high of 50.9 in October, unchanged from a preliminary reading last week, but much higher than its September figure of 50.2.

The numbers add to a growing feeling that China -- a key driver of global and regional economic growth -- was gradually moving out of a slowdown that has lasted most of the year.

China's economy expanded 7.8 percent in July-September, snapping two quarters of growth, while trade and investment have also shown a general improvement.

"China is on track for a gradual growth recovery," HSBC chief economist for China Qu Hongbin said in the bank's release, while ANZ bank economists Liu Li-Gang and Zhou Hao said the figures suggest "the economy is still in an expansion mode".

However, government and independent analysts warned underlying data suggests economic weaknesses remain.

Zhao Qinghe, a researcher at China's National Bureau of Statistic, said on its website: "The forces driving up the PMI reading were imbalanced as the rebound in subindexes other than output remained relatively weak."

And Bank of America Merrill Lynch economists called the official figures "above consensus", adding "further improvement ... is limited".

They said the gain was mostly fuelled by higher output owing to a pick-up in the economy as well as inventory restocking, while new orders, including for exports, slowed.

The news was similar elsewhere.

In Indonesia HSBC said its PMI rose to 50.9, its highest level in four months, from 50.2 in September, driven by a rebound in new work. But HSBC economist Su Sian Lim said: "But the ongoing contraction in work backlogs suggests that overall demand-pull pressures in the economy continue to weaken."

In India, manufacturing continued to shrink, with the HSBC index unchanged at 49.6. The figures add to growing concerns about growth, which has been held back by an exit of foreign cash, economic mishandling, bureaucratic red tape and corruption.

Exporters were boosted by a weaker rupee -- making their goods cheaper abroad -- but importers had to pay more for their inputs. HSBC said input cost inflation hit a 16-month high in October while prices charged by manufacturers rose at their fastest pace since February.

And in Taiwan its PMI fell to 51.6 from 52.6.

South Korea, however, was more upbeat, its PMI jumping into positive territory in October -- hitting 50.2 from September's 49.7 -- while exports rose 7.3 percent, turning around a decline from a year before.

.


Related Links
The Economy






Comment on this article via your Facebook, Yahoo, AOL, Hotmail login.

Share this article via these popular social media networks
del.icio.usdel.icio.us DiggDigg RedditReddit GoogleGoogle




Memory Foam Mattress Review
Newsletters :: SpaceDaily :: SpaceWar :: TerraDaily :: Energy Daily
XML Feeds :: Space News :: Earth News :: War News :: Solar Energy News





POLITICAL ECONOMY
China GDP figures wrong by $610 billion: report
Beijing (AFP) Oct 30, 2013
China's economy would be at least 3.7 trillion yuan ($610 billion) bigger than Beijing thinks if the country's local government statistics were to be believed, state media reported Wednesday. The Economic Information Daily tallied up gross domestic product (GDP) data from 28 of mainland China's 31 provincial-level authorities, totalling 42.4 trillion yuan for the first nine months of the yea ... read more


POLITICAL ECONOMY
Space technologies boost disaster reduction int'l co-op

How to Manage Nature's Runaway Freight Trains

Uruguay to pull peacekeepers from Haiti: president

Storm-battered northern Europe slowly gets back to normal

POLITICAL ECONOMY
Google boss says US data spying is "outrageous"

Historic Demonstration Proves Laser Communication Possible

UNC neuroscientists discover new 'mini-neural computer' in the brain

Birthing a new breed of materials

POLITICAL ECONOMY
New study suggests coral reefs may be able to adapt to moderate climate change

Dublin faces water rationing after serious treatment plant problem

UCLA report urges new global policy effort to tackle crisis of plastic litter in oceans

Study maps human impacts on top ocean predators along US west coast

POLITICAL ECONOMY
Thawing Permafrost: The speed of coastal erosion in Eastern Siberia has nearly doubled

Greenpeace says Russia moving jailed activists to St Petersburg

Vast Antarctic sanctuary plans fail

Melting Arctic sea ice could increase summer rainfall in northwest Europe

POLITICAL ECONOMY
Study challenges soil testing for potassium and the fertilizer value of potassium chloride

Plant production could decline as climate change affects soil nutrients

Drink it while you can, as wine shortage looms: study

Second GM corn set for EU approval after Court ruling: EU sources

POLITICAL ECONOMY
Improving earthquake early warning systems for California and Taiwan

Guatemala warns pilots of ash plume from volcano

Tropical Storm Sonia weakens after hitting Mexico

Hundreds evacuated as Indonesia volcano erupts

POLITICAL ECONOMY
Tanzania halts anti-poaching drive after abuse claims

China backs African bid to suspend ICC Kenya case

Britain military eyes world hotspots training role

Tanzania minister defends anti-poaching campaign as ivory seized

POLITICAL ECONOMY
Study: Humans made sophisticated stone tools earlier than thought

Did hard-wired fear of snakes drive evolution of human vision?

Hair regeneration method is first to induce new human hair growth

No known hominin is ancestor of Neanderthals and modern humans




The content herein, unless otherwise known to be public domain, are Copyright 1995-2014 - Space Media Network. AFP, UPI and IANS news wire stories are copyright Agence France-Presse, United Press International and Indo-Asia News Service. ESA Portal Reports are copyright European Space Agency. All NASA sourced material is public domain. Additional copyrights may apply in whole or part to other bona fide parties. Advertising does not imply endorsement,agreement or approval of any opinions, statements or information provided by Space Media Network on any Web page published or hosted by Space Media Network. Privacy Statement