United Kingdom builders pick up pace in October, but Brexit worries grow - PMI

China’s Caixin PMI Climbed Marginally in October

China’s Caixin PMI Climbed Marginally in October

Civil engineering rose at the strongest pace since July 2017 while house building and commercial construction both increased at solid rates in October.

Looking ahead, manufacturers are optimistic overall that their production volumes will rise in the next 12 months.

Italy's manufacturing sector shrunk for the first time in over two years in October, amid a sharp fall in new orders, output and exports, survey data from IHS Markit showed on Friday.

In an interview, Fiore said that five of manufacturing's six biggest sectors contributed to the expanding PMI number, but the lone one that did not expand was fabricated metal products, which he said is in the middle of the issues related to steel and aluminum tariffs, adding that new orders were also a drag.

The contraction in manufacturing activity was the first since August 2016.

The good news was that both new orders placed with manufacturers and inventories of purchased goods grew at a faster clip.

October was the first full month after the latest USA tariffs went into effect.

Last week, the Monetary Authority of Singapore said in its half-annual macroeconomic review that the negative spillovers of global trade tensions could impact the country in the latter part of this year and beyond.

Consequently, manufacturers tried to partly pass on higher cost burdens to their clients through increased output charges. Holdings of inputs increased markedly in October, with the pace of accumulation the quickest since the survey started in March 2011.

"October data suggest that manufacturing production growth continued to ease from the elevated rates seen over the summer".

Manufacturing sector growth in India gathered momentum in October as firms responded to stronger order inflows by scaling up production, input purchasing and employment.

China's manufacturing PMI was 50.2 percent this month, down 0.6 percent over last month, while the non-manufacturing business activity index was 53.9 percent in a drop of 1.0 percent, China's statistics bureau announced on its official website today. In a clear sign that inflationary pressures are continuing to build, strong customer demand meant firms were often able to push cost increases through to selling prices.

It seems that Brexit and global trade uncertainty have really started to bite United Kingdom manufacturing, as new orders domestically and worldwide new business fell throughout October.

"Growing risk aversion, linked in turn to worries about the global economic environment, trade-war worries, political uncertainty and rising prices appears to be hitting demand for a wide variety of goods", said Chris Williamson, chief business economist at IHS Markit. With Brexit talks still deadlocked, business optimism remains low compared with its long-run average.

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