Category: Manufacturing
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China Defends Manufacturing Push, Says World Needs More EVs
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Breadcrumbs Path Links PMN Business China’s manufacturing capacity helps the world fight climate change and contain inflation, Vice Finance Minister Liao Min said, responding to recent criticism from U.S. Treasury Secretary Janet Yellen of the country’s industrial surplus. Article author: Bloomberg News Bloomberg News Published on July 27, 2024 •…
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Philip Morris invests $600M in a new Colorado manufacturing facility
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Chris Hondros/Halton Archive via Getty Images Philip Morris International (New York Stock Exchange: Prime MinisterSwedish Match has announced that it will invest $600 million over the next two years through one of its U.S. subsidiaries to open a state-of-the-art manufacturing facility in Aurora, Colorado. The facility is being built to…
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Manufacturing posts largest loans slump of Sh39 billion
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Kenya’s manufacturing sector has been the hardest hit by the slowdown in private sector credit caused by higher commercial bank lending rates and rising non-performing loans. Total credit to the sector declined by Sh38.8 billion to Sh597.9 billion in the three months to end-March from Sh636.7 billion in December 2023.…
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U.S. ISM Manufacturing PMI Contracted At A Faster Pace In June
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Data released by the Institute for Supply Management showed that the US manufacturing sector recorded a contractionary reading of 48.5 points for the month of June. This is lower than the expected reading of 49.2 points and the index number in May of 48.7 points! In fact, the June PMI…
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UK June final manufacturing PMI 50.9 vs 51.4 prelim
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It’s a slight downward revision from the flash reading but still reaffirms marginal growth in the UK manufacturing sector. Both output and new orders continued to expand for the second month running. However, price pressures remain stubborn with input cost inflation hitting a 17-month high. This is a worrying sign…
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Japan final manufacturing PMI for June 50.0 (prior 50.4)
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S&P Global Manufacturing PMI for June 2024 Reaches 50.0 Previous 50.4 The initial was 50.1. From comment to report: “It is worth noting that the latest PMI data revealed the first rise in Japanese factory output in more than a year, and a recovery in business confidence. Although employment continued…
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June US KC Fed manufacturing index -11 vs -1 prior
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The previous one was -1 The composite index is -8 versus the previous -2 “It is clear that inflation has forced the customer to make ‘either/or’ decisions on how to spend their money. We see that the value-added elements of the food sector are severely affected. Our business is not…
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Reuters Tankan report for June 2024: Manufacturing index +6 vs. prior +9
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The Reuters Monthly Tankan Survey is a guide to the Bank of Japan’s quarterly Tankan Survey. For June 2024: The Manufacturers Index is +6, from +9 in May Positive for the fourth month in a row Japanese manufacturers say their low confidence is due to high material costs. Non-manufacturers +31,…
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U.S. ISM Manufacturing PMI Surprised With a Deeper Contraction in May
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The latest round of US manufacturing PMI releases showed a mixed picture, with S&P Global revising its preliminary readings higher while the closely watched ISM PMI showed a deeper contraction than markets expected: S&P Global’s final manufacturing PMI jumped from 50.0 to 51.3 in May (vs. initial 50.9 reading) ISM…
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UK May Final Manufacturing PMI 51.2 vs.51.3 expected
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Final Manufacturing PMI 51.2 vs. 51.3 expected and 49.1 previous. Key findings: Manufacturing PMI at 51.2 in May Production is rising in all major subsectors and size categories. Business optimism rises to 27-month high comment: Commenting on the latest survey results, Rob Dobson, Director of S&P Global Market Intelligence, said:…
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China’s manufacturing surges, Caixin PMI shows, but global risks grow By Reuters
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BEIJING (Reuters) – Factory activity in China grew at the fastest pace in nearly two years in May thanks to gains in production and new orders, especially at small businesses, a private sector survey showed on Monday, raising expectations for the second quarter. The Caixin/S&P Global Manufacturing PMI rose to…
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Once a giant, manufacturing now trails financial sector in Kenya GDP share
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In the 1980s, manufacturing in Kenya was so big that Daniel arap Moi’s government dared to join the car manufacturers’ league by commissioning the building of its own car. The plan failed because the exotic car, the Nyayo Pioneer, could barely move a kilometre, but the dream of building the…
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Implement county industrial hubs to unlock manufacturing potential
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One of the key sectors capable of accelerating economic growth is manufacturing. Hence, any country that aspires to achieve economic progress must place manufacturing at the heart of its strategic development plans. Recognizing this fact, Kenya has been constantly looking to improve the sector that for years has languished below…
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Eurozone Final April Manufacturing PMI 45.7 vs. 45.6 expected
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In the Eurozone, the April manufacturing PMI was 45.7 versus 45.6 expected and 46.1 previously. Key findings: Eurozone HCOB manufacturing PMI at 45.7 (March: 46.1). Lowest level in 4 months. Eurozone HCOB manufacturing PMI output index at 47.3 (March: 47.1). Highest level in 12 months. Factory output is falling at…