Arab Today, arab today asian manufacturing activity slows in july
Last Updated : GMT 16:41:21
Arab Today, arab today
Arab Today, arab today

Asian manufacturing activity slows in July

Arab Today, arab today

Arab Today, arab today Asian manufacturing activity slows in July

London - AFP

Manufacturing activity across Asia continued to slow in July, data showed on Monday, as efforts to tame stubbornly high inflation across the region took hold. Export-reliant countries were also hurt by weakening demand from crisis-hit Europe and the United States while increases in the value of some Asian currencies made their overseas shipments less competitive. Chinese production contracted in July for the first time in a year while Indian output hit a 20-month low, HSBC said, as monetary tightening measures put the brakes on two of the region's biggest and fastest-growing economies. Manufacturing in Taiwan contracted for the second straight month in July to the lowest level since January 2009 while South Korea saw activity pick up, the banking giant said, releasing its monthly purchasing managing indexes. A separate survey showed a downturn in Australian manufacturing gathered pace in July as Australia -- largely shielded from the global crisis due to strong Chinese demand for its raw materials -- saw its currency hit a 30-year high against the dollar. China's manufacturing activity fell to 49.3 in July from 50.1 in June, which HSBC chief economist Qu Hongbin said confirmed the "slowing growth momentum of the manufacturing sector against the backdrop of sustained tightening and lacklustre external demand." Beijing's own purchasing managers index showed China's production slowed for the fourth straight month in July to 50.7 from 50.9 in the previous month -- the lowest level in more than two years. A reading above 50 indicates the sector is expanding, while a reading below 50 points to contraction. Both surveys showed inflationary pressures eased in July, with an official index measuring the cost of raw materials used to make products falling slightly to 56.3 in July from 56.7 in the previous month. HSBC said "cost inflation remained muted" last month. Chinese officials have been pulling on a variety of levers to prevent the economy from overheating and rein in inflation -- which hit a three-year high of 6.4 percent in June -- amid fears high prices could trigger social unrest. In a bid to stop money flooding the system Beijing has increased the amount banks must hold in reserve several times -- which cut lending 10 percent in the first half of 2011 -- while interest rates have risen five times since October. China's central bank said Monday "stabilising prices" remained the top priority for the second half, warning inflation expectations were still strong and could rise if policies were relaxed. Investors were largely unfazed by the PMI data, with Asian stock markets buoyed by news that US lawmakers had reached a last-minute deal that would raise the country's debt ceiling and avoid a catastrophic default. Tokyo closed 1.34 percent, or 131.98 points, higher at 9,965.01 and Seoul gained 1.83 percent, or 39.10 points, to 2,172.31 while Sydney closed 1.65 percent, or 73.2 points, up at 4,497.8. Hong Kong rose 0.99 percent, or 223.12 points, to 22,663.37 but Shanghai ended flat, edging up just 2.05 points to 2,703.78 as the contraction in manufacturing weighed on sentiment. India's PMI fell to 53.6 in July from 55.3 in June due to prolonged monetary tightening while Taiwan declined to 46.1 from 49.9, HSBC said. South Korea's PMI rose slightly to 51.33 in July from 51.13 in June. In Australia, the Australian Industry Group-PricewaterhouseCoopers Australian Performance of Manufacturing Index fell to 43.4 points in July, down 9.5 points from June.

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today asian manufacturing activity slows in july Arab Today, arab today asian manufacturing activity slows in july

 



Arab Today, arab today
Arab Today, arab today Saudis await visitors but will they come?

GMT 11:54 2017 Thursday ,23 February

Saudis await visitors but will they come?
Arab Today, arab today Sarah Belamesh designs antiques of "ceramic"

GMT 19:45 2017 Monday ,20 February

Sarah Belamesh designs antiques of "ceramic"
Arab Today, arab today Blind sheikh buried in Egypt

GMT 06:32 2017 Thursday ,23 February

Blind sheikh buried in Egypt
Arab Today, arab today Media host Mona Iraqi stresses her show's success

GMT 15:32 2017 Wednesday ,22 February

Media host Mona Iraqi stresses her show's success

GMT 16:32 2017 Wednesday ,22 February

US Treasury chief tells IMF to monitor currencies

GMT 16:08 2017 Wednesday ,22 February

Qatari banks merger to rebalance financial sector

GMT 05:57 2017 Wednesday ,22 February

Britain risks clash with EU over RBS bailout

GMT 05:26 2017 Wednesday ,22 February

Singapore carbon tax would hit refiners, help renewables

GMT 05:18 2017 Wednesday ,22 February

Chinese PM: US should avoid ‘trade war,’

GMT 20:59 2017 Tuesday ,21 February

Economy good, but homes in German cities overpriced

GMT 05:29 2017 Tuesday ,21 February

Sovereign funds pulled $38bn from markets in 2016
View News in Arabic - Business: نفط وبتروكيماويات
Arab Today, arab today
Arab Today, arab today
Arab Today, arab today To hold social dialogue over secondary school

GMT 07:43 2017 Wednesday ,22 February

To hold social dialogue over secondary school
Arab Today, arab today UK appoints 1st Scotland Yard chief in 188 years

GMT 05:14 2017 Thursday ,23 February

UK appoints 1st Scotland Yard chief in 188 years
Arab Today, arab today Ex-yoga missionary unleashes rage

GMT 12:16 2017 Thursday ,23 February

Ex-yoga missionary unleashes rage
Arab Today, arab today Pluto's unruly moons

GMT 06:31 2015 Thursday ,04 June

Pluto's unruly moons
Arab Today, arab today Tesla back into red but revenue grows

GMT 07:27 2017 Thursday ,23 February

Tesla back into red but revenue grows
Arab Today, arab today Nissan enhances sales in most markets

GMT 14:08 2017 Monday ,20 February

Nissan enhances sales in most markets
Arab Today, arab today Salma Rashid happy for 'A Whisper of Love'

GMT 05:19 2017 Tuesday ,21 February

Salma Rashid happy for 'A Whisper of Love'
Arab Today, arab today Milan laughs while Rome cries

GMT 10:28 2017 Wednesday ,22 February

Milan laughs while Rome cries

GMT 06:41 2017 Monday ,20 February

Janat pleased for issuing 'Good Morning'

GMT 12:35 2017 Tuesday ,21 February

63-Year-Old Woman Delivers Baby

GMT 14:29 2017 Monday ,20 February

Prepares to present her new collection

GMT 15:53 2017 Tuesday ,21 February

Small ponds have outsized impact

GMT 23:29 2017 Thursday ,16 February

Home built on sand castles-style costs $8m

GMT 07:51 2017 Wednesday ,22 February

Mom's immune system accepts babies

GMT 17:46 2017 Saturday ,18 February

Tourist guide reveals methods of tourist attractions

GMT 13:12 2015 Saturday ,09 May

Sheikh Sultan opens Sharjah Centre

GMT 19:10 2017 Friday ,17 February

Hats, scarves add beauty to women
Arab Today, arab today
Arab Today, arab today
 
 Arab Today Facebook,arab today facebook  Arab Today Twitter,arab today twitter Arab Today Rss,arab today rss  Arab Today Youtube,arab today youtube  Arab Today Youtube,arab today youtube
arabstoday arabstoday arabstoday arabstoday
arabstoday arabstoday arabstoday
arabstoday
بناية النخيل - رأس النبع _ خلف السفارة الفرنسية _بيروت - لبنان
arabstoday, Arabstoday, Arabstoday