India manufacturing PMI rises to 5 year high in December

The survey's authors said a number of respondents signalled that they were receiving higher new orders from customers in North America.

However, there was a note of caution in the data as growth in new export orders fell to 56.9 in December from a near three-year high of 60.0 a month earlier.

According to data compiled by Nikkei Malaysia Manufacturing Purchasing Managers Index, manufacturers ended the 2017 year stagnant. In fact, job creation accelerated to the strongest since August 2012. As a effect, the sector observed a modest increase in pre-production inventories for the first-time since June.

Growth in Australia's manufacturing sector moderated slightly in December, but continued its unbroken run of either expanding or stable conditions that began in October 2016. An expectation of an improvement in economic conditions was cited as the key factor behind positive sentiment.

Spain's manufacturing sector expanded at a solid pace in December thanks to strong output and hiring, a survey showed on Tuesday, in the latest sign that economic growth throughout 2017 held steady until the end of the year.

Meanwhile, the sub-index of supplier deliveries declined 0.2 points month on month to 49.3, showing a slower delivery by raw material suppliers.

The rate of input cost inflation ticked down from November. "As consumer spending recuperates, firms were restricted in their ability to pass on higher cost burdens to clients which further placed upward pressure on firms' margins".

"Challenges remain as the economy adjusts to recent shocks, but the overall upturn was robust compared to the trend observed for the survey history", Dodhia said.

The Nikkei Malaysia Manufacturing PMI said business conditions in the Malaysian manufacturingsector broadly stagnated in December, following an improvement in November.

  • Tracy Klein