Chinese industrial output strong in August, PMIs show

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Growth in Greek manufacturing activity accelerated in August for the third consecutive month as rising demand at home and overseas led firms to add jobs and increase production, a survey showed.

De Lima said, "All sub-sectors posted substantial recoveries, with capital goods outperforming its consumer and intermediate goods counterparts regarding growth rates for production".

Manufacturing output declined to 54.3 from 56.3, though some survey respondents reported having a greater number of projects in the pipeline.

Taiwan's manufacturing survey saw the fastest growth in four months, while South Korea's exports beat expectations and posted their longest run of growth in nearly six years.

Chinese manufacturing activity picked up pace in August, according to an official survey indicating a crucial component of the world's second-biggest economy is holding firm.

The final index for new orders was 51.9, well below the preliminary index of 52.7 and only slightly higher than a final 51.8 in July.

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Going forward, Indian manufacturers remained cheerful around growth prospects, but concerns about the possibility of unexpected policy decisions weighed on confidence and the level of sentiment fell from July's 11-month high.

While remaining elevated, United Kingdom inflation unexpectedly eased from 2.9% to 2.6% in July.

India's economic growth slipped to a three-year low of 5.7 per cent in April-June as disruptions caused by demonetisation spilled over to the third straight quarter amid slowdown in manufacturing activities.

"Companies linked gains in new export work to increased business from mainland Europe, the USA, China and Australia". Manufacturers' selling prices rose at a solid, yet slower, pace.

Commenting on the data, Rob Dobson, director of IHS Markit, said: "The key question is whether this positive start to the second half of the year can be sustained".

Prime Minister Narendra Modi's shock move last November to scrap high-value banknotes late a year ago has continued to weigh on overall economic activity.

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