Canada manufacturing growth cools in Aug, but employment jumps

Australian Dollar Trends Tightly Against Euro as Data Impresses

The PMI reading, given between 0-100, measures activity in the sector - anything above 50 signals growth, while anything below means contraction.

Job creation was reported despite backlogs contracting for the fifteenth consecutive month, the release said, adding that although the rate of decline was weaker than that for July, it was faster than the index series average.

"Today's data confirm that United Kingdom manufacturers are looking beyond the Brexit negotiations to strengthening market opportunities in Europe and beyond, with the acceleration in manufacturing activity in August helping to provide some welcome offset to sluggish consumer demand at home", added Ms Lee Hopley, chief economist at EEF, the manufacturers' organisation.

Further, data showed that business optimism improved to a three-month high driven by rising demand, new product launches, efforts to improve market share, stronger global economy and planned investment spending.

Moreover, manufacturers hired extra staff at the fastest pace since March 2013 to cope with higher workloads.

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"All five of the PMI components - output, new orders, employment, suppliers' delivery times and stocks of purchases - were consistent with a stronger performance for the manufacturing industry during August", a statement from IHS Markit said.

On the price front, survey showed that input price inflation ticked up for the first time in six months.

"Output charges were raised marginally and at a rate that was muted in the context of historical data", Lima said.

It came as household spending slumped to its lowest level in almost three years following a slowdown in new vehicle sales and persistent pressure from higher inflation.

The International Monetary Fund (IMF) also stood pat on its view that India's GDP will pick up and grow at a rate of 7.2 percent in 2017-18.

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