Get 40% Off
🤯 This Tech Portfolio is up 29% YTD! Join Now to Get April’s Top PicksGet The Picks – Just 99 USD

Asia Growth Gathers Pace Midway Through Q3

Published 20/09/2017, 05:34
Updated 05/03/2021, 15:50

The following is an extract from IHS Markit's monthly Asia PMI overview presentation. For the full report please click on the link at the bottom of the article.

Asian economic growth gathered pace in August after a subdued start to the third quarter, according to PMI data. The Asia Composite PMI Output Index, compiled by IHS Markit, rose to 51.8 from 51.1 in July. The latest reading is historically comparable to an annual GDP growth rate of 5.3%.

While the pick-up in output growth was encouraging, the rate of increase remained below recent peaks, as was the case for expansion of new orders and employment. Growth of new business accelerated from July but remained below the average seen in the first half of the year. Likewise, employment recorded another mild increase as firms’ expectations of future output failed to improve noticeably, with optimism stuck at one of the lowest levels seen so far this year.

Asia PMI and economic growth

Asia PMI & Economic Growth

New work, employment and expectations

Asia Composite PMI

Business activity in Asia continued to underperform compared to the global rate of expansion seen in August. Solid growth in the developed world (and in the US and eurozone in particular) were key drivers behind the improvement in global business conditions.

Uneven growth in Asian markets was key to the underperformance relative to the global picture. While China and Japan have recorded steady growth rates since late last year, India’s private sector economy was besieged by two events that impacted business activity: the sudden withdrawal of high-denomination notes and the roll-out of the consumption tax.

Disclaimer: The intellectual property rights to these data provided herein are owned by or licensed to Markit Economics Limited. Any unauthorised use, including but not limited to copying, distributing, transmitting or otherwise of any data appearing is not permitted without Markit’s prior consent. Markit shall not have any liability, duty or obligation for or relating to the content or information (“data”) contained herein, any errors, inaccuracies, omissions or delays in the data, or for any actions taken in reliance thereon.

In no event shall Markit be liable for any special, incidental, or consequential damages, arising out of the use of the data. Purchasing Managers' Index™ and PMI™ are either registered trademarks of Markit Economics Limited or licensed to Markit Economics Limited. Markit is a registered trade mark of Markit Group Limited.

Original post

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.