Asia PMI Highlight an Increase in Demand

November 1, 2013 Share Print 0

Demand for exports drove the fastest upturn in Asia’s factories in months during October, led by China, as Friday’s business surveys also showed UK manufacturers still expanding.

The latest batch of purchasing managers indexes (PMIs), which survey thousands of manufacturers worldwide, showed Chinese factory growth hitting an 18-month high, and British factories sustaining a solid rate of expansion.

Although data from the U.S. due later on Friday are expected to show a slight slowdown in industrial growth, taken together, the PMIs point to a gradual improvement in global economic activity.

They follow a month in which a political standoff in Washington over the U.S. debt ceiling and the sixth straight cut in IMF global economic forecasts had raised fresh concerns about the health of the global economy.

via Reuters

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Alfonso Esparza

Senior Currency Analyst at Market Pulse

Alfonso Esparza specializes in macro forex strategies for North American and major currency pairs. Upon joining OANDA in 2007, Alfonso Esparza established the MarketPulseFX blog and he has since written extensively about central banks and global economic and political trends. Alfonso has also worked as a professional currency trader focused on North America and emerging markets. He has been published by The MarketWatch, Reuters, the Wall Street Journal and The Globe and Mail, and he also appears regularly as a guest commentator on networks including Bloomberg and BNN. He holds a finance degree from the Monterrey Institute of Technology and Higher Education (ITESM) and an MBA with a specialization on financial engineering and marketing from the University of Toronto.