India's manufacturing sector rebounds in August

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The IHS Markit/CIPS purchasing managers' index for the United Kingdom manufacturing sector jumped to 56.9, a four-month high, in August from an upwardly-revised 55.3 in July, easily exceeding the 55.0 consensus forecast in a poll of economists.

Output in Britain's manufacturing industry unexpectedly pushed to a four-month high in August thanks to a jump in new work.

Greece's manufacturing activity expanded at the quickest pace in nine years in August, driven by solid rise in new business, survey figures from IHS Markit showed Friday.

The index is based on a monthly survey compiled for Nikkei by IHS Markit, with a reading above 50 indicating economic expansion.

Sterling - which is around 13% lower than its pre-referendum level against the dollar - has been a key driver of the resurgence in the United Kingdom manufacturing sector since last June, and that remained the case in August, IHS Markit said.

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That was in-line with a reading from an official PMI released the day before, although Caixin's gauge was boosted by "robust" foreign demand, contrary to the findings from the first of the two surveys, Simona Gambarini at Capital Economics pointed out.

"Indeed, the UK's PMI remained below the eurozone's (57.4) for the fourth consecutive month". Buoyed up by a rebound in domestic demand, the sector's overall performance was one of the strongest since 2014.

Manufacturers reported a sharp increase in output in August and new orders received by Dutch manufacturers grew at the fastest pace since December 2013.

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. Michael Saunders, who supported an increase, said on Thursday that the risks from Brexit aren't reason enough to hold off on a hike.

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