India’s manufacturing growth slowed to a three-month low in December. The purchasing managers’ index fell to 56.7 from 58.4 in November. Any data above 50 indicates expansion. The reading has exceeded 50 since April 2009, showing that consumption is holding up amid the monetary policy tightening. Merchandise exports rose 26.5% to USD18.9bn in November y-o-y while imports gained 11.2% to USD27.89bn. Meanwhile, Australian manufacturing contracted in December for a fourth month to 46.3 from 47.6 as higher borrowing costs curbed consumer spending. (Bloomberg)
No comments:
Post a Comment