The manufacturing sector in Australia slipped into contraction in December, the latest survey from the Australia Industry Group revealed on Monday with a Performance of Manufacturing Index score of 49. graphes news forex gratuits in November, and it falls beneath the boom-or-bust line of 50 that separates expansion from contraction.
It’s also the first time in 26 months that the index has failed to expand. Among the individual components, production, employment, new orders, supplier deliveries, exports and selling prices all contracted – while finished stocks, sales, input prices and average wages all continued to expand. Australia Performance Of Manufacturing Index 49. Australia will on Monday release December results for the Performance of Manufacturing Index from the Australian Industry Group, setting the pace for a modest day in Asia-Pacific economic activity. In November, the index score was 51. 1 percent on year to 501. Crude oil prices ended sharply higher on Friday, extending gains to a fifth successive session, after stronger than expected U.
Chinese services sector activity eased concerns about global growth and energy demand prospects. Hopes that output reductions by major oil producers like Saudi Arabia and Russia would help ease concerns about excess supply in the market contributed as well to oil’s uptick. Oil output from OPEC fell by 530,000 barrels a day to 32. 6 million a day last month, a Reuters survey found, marking the sharpest pullback since January 2017 as top exporter Saudi Arabia throttled back production. Meanwhile, data released by the Energy Information Administration today showed crude inventories in the U. 7,000 barrels in the week to December 28, beating expectations for a drop of more than 3 million barrels. Distillate stockpiles were up by 9.
5 million barrels last week, the biggest weekly jump in two years. 9 million barrels, more than thrice the expected increase. American Petroleum Institute reported yesterday that U. 5 million barrels during the week ended December 28. 96 a barrel, extending gains to a fifth successive session. For the week, oil futures gained about 5.
China’s commerce ministry said that China and the United States would hold vice ministerial level trade talks in Beijing on January 7-8 in a bid to defuse trade tensions. Data released by Markit said growth in China’s services sector edged higher in December. Markit services PMI rose to a six-month high of 53. The Labor Department’s report showed a much stronger than expected job growth in the U. The report said non-farm payroll employment soared by 312,000 jobs in December after climbing by an upwardly revised 176,000 jobs in November.
Economists had expected employment to increase by about 177,000 jobs compared to the addition of 155,000 jobs originally reported for the previous month. After moving notably higher over the past few sessions, treasuries pulled back sharply during the trading day on Friday. Bond prices moved significantly lower early in the day and remained firmly negative throughout the session. Subsequently, the yield on the benchmark ten-year note, which moves opposite of its price, jumped by 10. With the substantial increase on the day, the ten-year yield bounced well off the more than eleven-month closing low set on Thursday. The sell-off by treasuries came following the release of a closely watched Labor Department report showing much stronger than expected job growth in the month of December. The Labor Department said non-farm payroll employment soared by 312,000 jobs in December after climbing by an upwardly revised 176,000 jobs in November.
Economist at Capital Economics, suggested the substantial job growth in December would “seem to make a mockery of market fears of an impending recession. Admittedly, employment is a coincident indicator, whereas the ISM manufacturing index, which we learned yesterday fell sharply in December, is a leading indicator,” Ashworth said. He added, “But, even allowing for that distinction, this employment report suggests the U. The report said the unemployment rate rose to 3. 9 percent in December from 3. 7 percent in November, while economists had expected the unemployment rate to come in unchanged.