Week 50 in Manufacturing News
Past 90 Days Sees the Largest Streak in Manufacturing Technology Orders in More Than 23 Years; UK Manufacturing Production Meets Estimates With 0% in October; Australia PMI Manufacturing Dropped to 57.4, PMI Services Dropped to 55.1.
Past 90 Days Sees the Largest Streak in Manufacturing Technology Orders in More Than 23 Years
New orders of manufacturing technology totaled $571.5 million in October 2021, according to the latest U.S. Manufacturing Technology Orders Report published by AMT–The Association For Manufacturing Technology. October orders declined 3.6% from September 2021 but increased by 50.2% over October 2020. Total orders in 2021 nearly reached $4.7 billion, a 53% increase over 2020.
UK Manufacturing Production Meets Estimates With 0% in October
Manufacturing output arrived at 0% MoM in October versus 0% expectations and -0.1% booked in September while total industrial output came in at -0.6% vs. 0.1% expected and -0.4% last. On an annualized basis, the UK manufacturing production figures came in at 1.3% in October, missing expectations of 1.7%. Total industrial output rose by 1.4% in the tenth month of the year.
Source: FX Street.
Australia PMI Manufacturing Dropped to 57.4, PMI Services Dropped to 55.1
Australia PMI manufacturing dropped from 59.2 to 57.4 in December. PMI Services dropped from 55.7 to 55.1. PMI Composite dropped from 55.7 to 54.9. Jingyi Pan, Economics Associate Director at IHS Markit, said: “The Australian economy maintained growth at a strong rate in December… Supply issues meanwhile persisted, with lead times continuing to lengthen and reports of shortages persisting.