India's December manufacturing PMI sees fastest growth in five years

Operating conditions for manufacturing best in 5 years during December: Nikkei PMI

Operating conditions for manufacturing best in 5 years during December: Nikkei PMI

"Manufacturing operating conditions improved in December, reinforcing the notion that economic growth has stabilized in 2017 and has even performed better than expected", Zhengsheng Zhong, an economist at CEBM Group, said in a statement accompanying Tuesday's release.

This was the highest score since mid-1997 and identical to the flash estimate published on December 14.

"Strong business performance was underpinned by the fastest expansions in output and new orders since December 2012 and October 2016 respectively", said Aashna Dodhia, an economist at IHS Markit and author of the report.

"Meanwhile, the Future Output Index signalled the strongest level of confidence in three months, with more than one-in-five survey participants forecasting higher production".

The World Bank last month raised its projection for China's gross domestic product (GDP) previous year to 6.8%, up from its October estimate of 6.7%, citing support from strong exports and robust domestic household consumption.

Growth in China's manufacturing sector hit a four-month high last month as factories boosted production to meet a surprise increase in orders, according to a closely watched survey.

Week 17 Preview: Eagles vs Cowboys
The outcome of this game is meaningless, but coming away with no major injuries will be the real victory on Sunday. The Eagles should start fast in the first half, as their starters are more talented than what Dallas has to offer.

The government expects unemployment to fall to 18.4 percent this year and is targeting 2.5 percent economic growth.

"However, we should not underestimate downward pressure on growth next year due to tightening monetary policy and strengthening oversight on local government financing".

"Industry in Việt Nam therefore looks to be in good shape heading into 2018", Andrew added.

The data support the view that the economy is beginning to gradually lose steam after growing by a forecast-beating 6.9 percent in the first nine months of the year, but the findings did not appear to suggest a risk of sharper slowdown at this point.

Analysts say the difference stems from the fact that the Caixin/PMI index tracks smaller, private firms, more sensitive to exports. The official PMI dropped to 51.6 from 51.8 in November, as more companies complained about the impact on their operation from tightened supply of energy and other raw materials and rising costs of transportation. The geographic distributions of the companies covered in the two polls are also different.

The country's manufacturing PMI has been in positive territory for 17 months in a row despite overall slower expansion this month.

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