Simon Murray, Research Analyst at Westpac, notes that Asian PMIs were relatively unchanged in August, with many of the advanced Asian nations steadying after a period of deceleration.
Key Quotes
“In emerging Asia, PMI’s appear to be treading water. This comes after official data indicated that annual growth in India and Indonesia is tracking at multi-year highs as at June quarter (2016 and 2013 respectively).”
“Nonetheless, while India and Indonesia have a strong starting point, anecdotes from the survey confirm that these economies are starting to feel the brunt of headwinds related to capital outflows and a weaker currency, higher oil prices, the consequent input cost pass through, and associated monetary policy tightening.”
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