United Kingdom manufacturing orders fall for first time since July 2016

China's Manufacturing Sector Expands Marginally

Civil engineering grew at the strongest pace since July of previous year, offsetting the weakest growth in house building and commercial construction in seven and five months respectively.

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

Trevor Balchin, Economics Director at IHS Markit, which compiles the survey said: "Although total United Kingdom construction activity rose at a stronger pace in October, the underlying survey data paint a less rosy picture for the sector towards the end of the year". The upturn in new orders accelerated to a five-month high and was widely attributed to greater client demand across the domestic market. Although firms reported partly passing on higher input prices to clients, charge inflation also eased to the least marked since March.

"New orders fell into decline for the first time in nearly four years as trade woes escalated".

This is according to the latest Manufacturing Purchases Managers Index (PMI) from ISH Markit. "Output is picking up but new orders are dwindling - which broadly translates as "hurry up and wait".

Cost burdens increased during October, the report found, fuelled by rising raw material prices, particularly for steel and timber.

Foreign demand fell for the second time in three months.

Saudi Arabia executed Indonesian worker: Rights group
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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.

Key to the manufacturing sector regaining growth momentum was a faster increase in output in October.

"The trade/import and export sector continued to drop in job openings in the third quarter of 2018, reflecting the continuous influence of the U.S". It showed construction output up 0.3% year-on-year in September following a dip of 0.7% month-on-month in August.

"That said, market conditions remained challenging for firms and further improvements will be needed in coming months if we are to see a return to growth", said IHS Markit Associate Director Andrew Harker, commenting on the Istanbul Chamber of Industry Turkey Manufacturing PMI survey data.

A lack of stock at suppliers stretched delivery times for inputs, while work backlog rose at the slowest pace since June 2016, it said.

"Optimism was at its lowest level for six years, as the sector remained stifled by client hesitation, fears about the health of the United Kingdom economy and continued Brexit uncertainty, resulting in slower growth of new orders and purchasing". IHS Markit has more than 50,000 business and government customers, including 80 percent of the Fortune Global 500 and the world's leading financial institutions.

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