CHINA’S manufacturing sector rose modestly in February to a nine-month high, bolstered by firmer client demand and increasing prices, according to a private survey released by Caixin yesterday. The Caixin China General Manufacturing Purchasing Managers’ Index, an indicator of manufacturing activity, climbed to 51.6 in February from 51.5 in January, notching a peak since August last year, the survey conducted by financial information service ...
A ferry sails past Pasir Panjang container terminal port in Singapore yesterday. Singapore’s economy is set to have grown less than initially expected in the fourth quarter as factory activity and exports slowed, suggesting the recent easing in booming sales of electronics could hit growth this year. A Reuters poll yesterday predicted quarterly growth at 2 percent in the October-December period on a seasonally adjusted and annual basis, ...
GERMANY’S central bank has said it will include the Chinese yuan in its reserves, giving another boost to China’s drive to internationalize the currency. The Bundesbank said its board had decided in July to invest in the yuan to take account of its growing importance globally, though it did not say when it would begin to include it or how much it would purchase. “The decision to accept the yuan is part of a long-term diversification ...
UK inflation at highest in 6 years more...
BRITAIN slashed its growth forecasts for its Brexit-bound economy and expects to borrow sharply more going into the next decade, finance minister Philip Hammond said yesterday as he delivered a gloomy budget statement in parliament. Slower economic growth will mean lower tax revenues, giving Hammond little room for the bold moves that many in his Conservative Party — still smarting from an election mauling in June — are demanding to help ...
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