Global factories kick off 2018 on strong note, but inflation missing
Hong Kong
ASIA'S factories got off to a strong start in 2018, with manufacturing activity in many countries gaining momentum and hitting multi-year highs as global demand for high-tech products remained strong.
Business surveys in Europe and the United States on Thursday showed solid factory activity, reinforcing expectations of another year of synchronised global growth that has propelled stock markets to record highs.
A Purchasing Managers' Index for the eurozone sector slipped to 59.6 - matching a previous flash estimate - from 60.6 in December, IHS Markit said on Thursday. Companies raised selling prices by the most in almost seven years, partially due to a steep increase in energy costs, the London-based company said. Solid global trade, a recovering labour market and monetary stimulus from the European Central Bank are all supporting the currency bloc's economy, which expanded last year by the most in a decade. While inflation so far has remained muted, policymakers have expressed confidence that price growth will …
BT is now on Telegram!
For daily updates on weekdays and specially selected content for the weekend. Subscribe to t.me/BizTimes
International
South Korea readies new system to detect illegal short-selling
US births retreat after pandemic-era growth
Markets are embracing India's Modi for what he won’t do
Blinken to meet businesses in Shanghai as he kicks off a tough China trip
Indonesia’s central bank surprises with ‘pre-emptive’ rate hike to cushion falling rupiah
South Korea’s economic growth beats forecast as exports rise