Russian manufacturing activity rose slightly in March

Russian manufacturing activity rose slightly in March

"The sentiment of growth in the manufacturing sector is usually reflected by the industrial production in the country", he told The Edge Financial Daily when contacted.

But the performance completes a relatively weak quarter for the industry after a mini-boom at the end of a year ago.

Manufacturing, which accounts for about 10 percent of Britain's economy, was a relative bright spot late previous year, when economic growth was the weakest among the Group of Seven rich nations. The news that the reading was better than expected helped push the Pound higher. Although the recent United Kingdom manufacturing PMI reading printed better-than-expected, additional activity measures out on 4th and 5th April could end up dragging the GBP/EUR exchange rate down.

Of the 18 manufacturing industries, 17 reported growth in March, in the following order: fabricated metal products; plastics & rubber products; computer & electronic products; paper products; printing & related support activities; nonmetallic mineral products; transportation equipment; petroleum & coal products; wood products; machinery; chemical products; textile mills; electrical equipment, appliances & components; furniture & related products; miscellaneous manufacturing; food, beverage & tobacco products; and primary metals.

The UK manufacturing sector maintained a steady growth in March, survey results from IHS Markit showed Tuesday. Germany's PMI was 58.2, an eight-month low, Italy's was 55.1, also an eight-month low, Spain's was 54.8, a six-month low and France's was 53.7, a 12-month low. A figure above 50 indicates expansion on the index, which is used by the Bank of England to monitor the health of the economy.

"From March PMI data, it looks like we are hitting below [the] 50-point level in two months consecutively and [the] March reading is the lowest in the five months".

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Manufacturers raised their staff level for the 24th successive month in response to higher output requirements.

"(So).even a significantly softer release today would be unlikely to call into question the May rate hike that markets remain nearly fully priced for". "Companies cited rising demand at home and overseas plus recent government policy announcements as helping shore up confidence in terms of their future production levels". "Increased costs were often passed on to customers, meaning prices charged for goods at the factory gate showed the steepest rise in over four years". At the same time, the increase in the number of new orders is the lowest in the last 20 months since mid-2016, with the increase in export orders remaining stable.

A 0.7% gain in private construction in February from January was outweighed by a 2.1% decline in public construction projects. That said, the latest deterioration in vendor performance was marginal. Export orders remained strong, supported by a weaker USA currency.

"Overall, I don't expect the manufacturing sector to slow significantly for this year, but it will continue to grow at the slower pace as we have to watch out for the potential headwinds to our manufacturing sector growth coming from [the] potential trade war between the U.S. and China".

According to MarketWatch, this upward revision was due to the biggest increase in consumer spending in three years and higher investment in business inventories.

The German 10-year bond yields, which move inversely to its price, jumped almost 1-1/2 basis points to 0.50 percent, the yield on 30-year note surged also surged almost 1-1/2 basis points to 1.16 percent and the yield on short-term 2-year too traded 1-1/2 basis points higher at -0.58 percent by 09:05GMT.

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