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Britain's factories report rise in production for March

04 April 2018

Initial inflation rate estimates for March are tipped to show a rise from 1.1% to 1.4%, while the jobless rate is expected to slow from 8.6% to 8.5%.

"Any further growth in the manufacturing sector would have to be driven by investment in production capacity", he added. It was marginally higher than a preliminary reading of 53.6. As the PMI fell, so did the new orders, production, employment, supplier deliveries and inventories indices.

"India's manufacturing sector continued to grow, albeit at the weakest pace since October, reflecting weaker gains in new business", Aashna Dodhia, an economist with IHS Markit, was quoted in an official release.

"Intense supply chain pressures and sharply rising raw material costs have been key headwinds for Canadian manufacturing companies so far this year", IHS Markit associate director Tim Moore, said.

The Markit/Cips UK manufacturing PMI barometer of factory sentiment showed activity jumped to 55.1 from 55 in February, beating economists' forecasts for a fall in the growth rate.

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With global tensions high over trade issues, politics and tariffs, manufacturing has faced challenging times in the first quarter of the year.

Like the ISM gauge, the one from IHS Markit indicates manufacturing is expanding when it is above a level of 50, although it's not expressed as a percentage.

Foreign demand for Indian manufactured goods also slipped to a four-month low amid growing fears of a trade war between the United States and China that could have a domino effect across the globe.

This is the eighth consecutive month that the index remained above the 50-point-mark.

New order volumes increased at a robust pace in March, which marked eighteen months of sustained expansion. "Companies cited rising demand at home and overseas plus recent government policy announcements as helping shore up confidence in terms of their future production levels".

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"Input cost inflation consequently hit the highest since 2012".

"Input cost inflation intensified to the sharpest since October 2015, predominantly driven by higher raw material costs stemming from currency weakness relative to the United States dollar".

It highlighted that production fell for the first time in eight months despite a marginal contraction rate.

The Netherlands posted the strongest performance in the eurozone, recording a PMI of 61.5, however, this was also a five-month low.

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Britain's factories report rise in production for March