United Kingdom factory output 'falls at fastest pace for seven years'

Turkey Manufacturing index hits 13-month high in Aug

Among the 21 industries surveyed, 17 were in the expansion zone, up from 12 in July, and 11 recorded month-on-month PMI increases. China reciprocated with new duties on US crude oil, increasing fears of a global economic slowdown. Manufacturing accounts for 10% of British economic output.

The Caixin China General Services Business Activity Index for August, which tracks the growing services sector, will be released on Wednesday.

"Optimism for the year ahead is now at its highest since late-2013, and it's especially good to see firms taking on more staff to meet the improved outlook and reporting new product launches to help drive revenues", he said in a statement accompanying the report. Director of Macroeconomic Analysis at CEBM Group said "The Caixin China General Manufacturing PMI stood at 50.4 in August, up from 49.9 in the previous month, showing an improvement in the manufacturing sector".

The survey comes after official figures showed India's economy grew at an annual rate of 5 per cent last quarter, its slowest in more than six years and significantly weaker than 5.7 per cent in a Reuters poll. A reading of 50 divides expansion from contraction.

The "simply shocking" manufacturing PMI came in at 47.4 in August, down from a reading of 48 in July and below analyst expectations.

More news: Germany: Merkel’s party rules out working with far right

China's manufacturing activity fell again in August, but its industrial upgrades continue to keep pace as the country strives to shift its economy's focus to highly productive industries.

Subdued domestic demand, weak output and increased cost pressures weighed on business momentum. The headline Manufacturing PMI remained in the contraction region with 49.5 mark versus 49.7 expected and prior whereas Non-Manufacturing PMI crossed 53.6 forecast to 53.8. At the same time, sentiment regarding the 12-month outlook for output softened to a level that was among the lowest in the series history, with optimism dampened by worries over the future trading relationship of China and the U.S., as well as signs of weaker global conditions.

"The US-China trade war is escalating and we're also seeing tensions heighten between Washington and Europe", which could cause the global economy to falter, said Yoshimasa Maruyama, chief market economist at SMBC Nikko Securities. Readings below 50 signal a shrinking of factory activity.

The bleak data strengthened the case for additional policy easing by South Korea's central bank, following a surprise interest rate cut in July.

Related News:

  • Real Madrid Sign PSG Star

    Real Madrid Sign PSG Star

    I will do everything I can to help PSG win new titles, bringing all my experience and professionalism. Moroccan worldwide Bounou will be Sevilla number two and Rico will be PSG number two.
    Taliban Attack 2nd Afghan City as US Envoy Says Deal Is Near

    Taliban Attack 2nd Afghan City as US Envoy Says Deal Is Near

    The Taliban said they had captured several important buildings while officials said the city was still under government control. The attacks are seen as strengthening the Taliban's negotiating position in the talks with U.S. envoy Zalmay Khalilzad.
    Hours After Shooter Kills Seven In Texas, Gun Laws Are Loosened

    Hours After Shooter Kills Seven In Texas, Gun Laws Are Loosened

    In May 2018, a gunman believed to be have been a student at Santa Fe High School killed 10 people and wounded 13 in the school. House Bill 302: prohibits landlords from banning renters and their guests from carrying firearms in lease agreements.
  • India's Chandrayaan-2 ready for moon landing

    India's Chandrayaan-2 ready for moon landing

    Now the Vikram lander will revolve around the moon at a speed of about 2 km per second before landing on the moon's south pole. Isro officials said that after Tuesday's deorbit manoeuvre, the lander had achieved a 109 x 120 km orbit around the Moon.
    Hurricane Dorian hovers Over Bahamas, makes slow approach to US

    Hurricane Dorian hovers Over Bahamas, makes slow approach to US

    Though the hurricane was downgraded to a Category 4 storm on Monday, sustained winds were still whipping at 155 miles per hour . The local American Red Cross chapter is gearing up to provide resources to those who will be affected by Hurricane Dorian .
    Apple released iOS 13.1 beta even before iOS 13 is out

    Apple released iOS 13.1 beta even before iOS 13 is out

    The report notes that there will "safe locations" where the user will not be notified if the item is left in these locations. It is also alleged to come with a removable battery, likely to be a button cell, given the expected size of device.
  • Dana White addresses UFC strawweight title picture, praises Weili Zhang

    Dana White addresses UFC strawweight title picture, praises Weili Zhang

    In the co-main, Li Jingliang knocked out favored Elizeu Zaleski Dos Santos in the waning seconds of their welterweight bout. My name is Zhang Weili, I'm from China!" Andrade, 27, is 7-1 since moving down to strawweight from bantamweight in 2016.
    Revised GDP Confirms Slowing Economy

    Revised GDP Confirms Slowing Economy

    The slowdown in inventory accumulation reflects robust consumer spending and an uncertain economic outlook. The estimate is a tick lower than the government's initial estimate a month ago of 2.1% annual growth.
    England’s Ashes blow as James Anderson is ruled out

    England’s Ashes blow as James Anderson is ruled out

    The cricket board stated that Anderson "became aware of right calf pain" while bowling on Thursday, according to Sky Sports . Anderson's continued absence has seen England name Craig Overton in an otherwise unchanged 13-man squad for the fourth Test.
  • Afghan Man Detained Following Mass Knife Attack In France

    Afghan Man Detained Following Mass Knife Attack In France

    The attacker then tried to flee toward a nearby subway station, but he was stopped by subway security and people at the scene. Emergency services responded to an exit at the Laurent Bonnevay stop of the Lyon Metro.
    Federation Internationale de Football Association  announces final three-man shortlist for Men’s Player of the Year

    Federation Internationale de Football Association announces final three-man shortlist for Men’s Player of the Year

    The goalkeepers also had protagonism in the event, with the Premier League dominating nominations. England Women head coach Phil Neville has been shortlisted for The Best FIFA Women's Coach award.
    Saudi-led forces launch air attacks against Houthis

    Saudi-led forces launch air attacks against Houthis

    The Western backed alliance said it had taken measures to protect civilians in Dhamar and the assault complied with global law. The UN Special Envoy Martin Griffiths has been shuttling between Sanaa and Riyadh to try to rescue the Stockholm Agreement.

Most liked

Samsung Galaxy A90 5G leak reveals retail box, confirms specs
The 5G modem will be the Snapdragon X50, and helping both out will be 6GB of RAM and, for this particular model, 128GB of storage. More than just the specs, the Galaxy A90 5G also possesses feature Samsung normally reserves only for its flagship-class devices.

No. 1 Naomi Osaka loses at U.S
Bencic hit a backhand down-the-line victor to break for a 6-5 lead then held on a service victor to capture the first set. Osaka is more powerful than Bencic and repeatedly used her serve to keep things close, finishing with nine aces.

Argentina returns to currency controls as debt crisis spirals
On Friday, the peso slid another 1.74 pesos against the dollar, devaluing a total of 33.2 percent compared with August past year . Individuals seeking to buy dollars now face a monthly limit of $10,000 (€9,100).

Colts reportedly sign Brian Hoyer as their backup quarterback
The deal is reportedly worth $12 million over three seasons, with $9 million being guaranteed, per ESPN's Adam Schefter . After Hoyer was released by the New England Patriots on Saturday, the Colts had an immediate interest.

Texas mass shooter got fired hours before deadly rampage
I thought she had got bitten by a dog or something. "I'm just trying to turn the corner and I got shot - I'm getting shot at?" The number of people killed this year has already reached 142, surpassing the 140 people who were killed of all last year.

Australia intercepts Sri Lankan boat with 13 asylum seekers
Mr Jones' comments follow impassioned pleas from protestors calling on the government to save the Tamil family from deportation. He said he would never allow a return to the tragic scenes of people dying at sea while trying to reach Australia illegally.

Bahamas brace for impact as Hurricane Dorian closes in
And while the Bahamas has Dorian at its front door, the question of when (or if) the storm will hit the U.S. mainland remains. Grocery stores' shelves were "just about cleared", Rigby said, and most homes and businesses had been shuttered since Friday.

Rolling Stones Reschedule Miami Gardens Concert for Hurricane Dorian
Also imperiled were the Bahamas, with Dorian's expected track running just to the north of Great Abaco and Grand Bahama islands. According to Florida news updates, Dorian would be the first Category 4 hurricane to hit Florida's east coast since 1992.

Seven people killed in crash of light aircraft in the Philippines
He said he was yet to find out where the couple would be buried and if their bodies would be brought back to New Zealand. A New Zealand couple were apparently onboard the medical evacuation flight that crashed in the Philippines.

Colts quarterback Luck drops retirement bombshell
They have two guys on board with Phillip Walker and Chad Kelly - but both of them are far from proven. Near the end of it, Luck answered a question on when the idea of retiring entered his head.

Broncos acquire CB Dawson from Patriots
The Broncos traded their 2020 sixth-round draft pick to New England in exchange for Dawson and a 2020 seventh-round pick. Trading Dawson, a 2018 second-round pick, breaks up a logjam at one of Patriots' deepest positions on the roster.

Trump preparing for visit to Poland
The German president expressed gratitude to Poles for the gestures of forgiveness Poland has bestowed in return. He said that "For this reason we should talk about these losses, we should. demand redress".

Taylor Swift's Lover is America's fastest-selling album since her last record
Taylor Swift got her start at age 14 when her family moved to Nashville so she could focus on becoming a star. This singer has never been shy about sharing her gratitude, whether that be for fans or other musicians.

Some deaths in boat fire off California coast: fire official
KETY reported that a distress call came in around 4 a.m. and that Coast Guard ships and aircraft raced to the scene. Emergency responders are launching several rescue attempts to get people off the vessel and to safety.

Latest update on Hurricane Dorian
Dorian's forecast track has shifted east since Friday, making a landfall in Florida less likely but not out of the question. The storm was projected to reach Florida by Labor Day weekend, but current forecasts have it turning north Monday evening.