Brazil manufacturing activity picks up in August -PMI

Dollar up in Asia with China manufacturing top data bill

The unofficial Caixin manufacturing PMI found firmer foreign demand was a key driver in spurring on new orders, with export sales accelerating at their fastest monthly pace in seven years.

Markit's purchasing managers' index (PMI) for the sector rose to 56.9, up from 55.1 in July, and against expectations of a fall to 55.

The reading was above the 50 line that separates growth from contraction but slightly lower than the flash reading of 59.4.

United Kingdom manufacturing expanded at the strongest pace in four months in August, lifted by both export orders and domestic demand.

The index for new export orders was also revised down to 51.3 from a flash reading of 52.2. As a result, companies expanded their production schedules and buying activity, while business confidence rose to its highest for five months.

On the other hand, weakness in the construction sector weighed on the official non-manufacturing PMI, which retreated from 54.5 to 53.4, a 15-month low, Gambarini said - a poor omen for prices of steel and iron ore.

While input price inflation remained solid, strong client demand boosted manufacturers' pricing power, leading to higher factory gate prices on average, the survey showed.

Improvement in both supply and demand as well as a steady rise in imports helped drive manufacturing performance, Zhao said.

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

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

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

Size was no barrier to success, either, with growth reported across all sectors and amongst SMEs and large-scale manufacturers alike.

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