Manufacturing in China increase its growth rate in August, which fell to its lowest level since early 2009 in July. Better than expected data on Chinese industries have shown that Asian country is able to maintain its growth momentum despite the economic climate deteriorated globally in recent months. Index of business activity in the factory sector rose to 51.7 points in August compared to 51.2 points in July. Its value lies within the area of growth over 50 points for the 18th straight month, topped market expectations, as reported by China Federation of Logistics and purchases (CFLP). They were in line with those of HSBC Bank Institute and market Markit Economics, which in turn is calculated index of business activity in the manufacturing sector of China. Its value for August rose to 51.9 points in July after having fallen to 49.4 points. The growth of manufacturing sector in China in August soothe concerns that the gross domestic product will significantly reduce its growth rate in the second half of the year. Oil prices rose, while the regional MSCI Asia Pacific Index advanced by 0.5 per cent in the first September session in Asia. China’s GDP grew by 10.3% yoy in the second quarter, reducing its growth rate to 11.9 percent growth recorded in the first quarter.
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Eurozone industrial production in November rose by 1.0% on a monthly basis and decreased by 7.1% yoy, with expectations for a rise of 0.7%, respectively, and decreased by 8.5%. Production for October was down by 0.3 percent revised on a monthly basis and by 10.9% per year compared to previous data for -0.1% respectively. and -11.1%. Faster rise to expectations due to growth in manufacturing in all sub-sectors without energy. Annual decrease was even the least since October, but still negative for the 19th consecutive month. Thus improving the progression index coincides with the studies on the activity of the industrial sector, which is significant in recent months.
However, maintaining levels of negative annual highlights the slow steps of recovery and because of its economists are firm that the ECB will keep its key interest rate unchanged today. We recall that it is 1%. Data showed that manufacturing in the industrial sector decreased by 2.2%, while the remaining 4 sub-sector growth is between 0.6% and 1.8% on a monthly basis in November with the strongest is the production of intermediate and capital goods.
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