All articles tagged with #new orders
ASML Holding NV's first-quarter new orders of €3.6 billion fell short of analyst expectations, reflecting a decline in demand for its most advanced machines from the chip making industry, following a record €9.19 billion in the previous quarter.
The manufacturing sector in the United States contracted for the 12th consecutive month in October, with the Manufacturing PMI registering at 46.7%. New orders, employment, and backlog of orders all contracted at a faster rate, while production expanded at a slower pace. Supplier deliveries improved, but raw materials inventories continued to contract. Prices decreased, and both exports and imports contracted. Only the food, beverage, and tobacco products industry reported growth, while the majority of manufacturing industries experienced contraction.
Chinese manufacturing activity unexpectedly grew in August, with the Caixin PMI reading 51.0, its highest level since February. The growth was driven by improving local demand and an uptick in new orders, offsetting a slowdown in overseas demand. However, analysts warn that the Chinese economy still faces pressure, particularly due to worsening conditions in its biggest export markets. The Caixin survey focuses on smaller, private enterprises and contrasts with the official reading, which showed a fifth straight month of contraction in the manufacturing sector. Despite recent stimulus measures, the Chinese economy is expected to face sustained headwinds in the coming months.
China's services sector showed an increase in activity in May, according to the Caixin/S&P Global services purchasing managers' index (PMI), which rose to 57.1 from 56.4 in April. The rise in new orders supported the consumption-led economic recovery in the second quarter. The Caixin survey showed that service companies reported a rise in new business last month, when the first May Day holiday following China's COVID reopening boosted orders for hotels, restaurants, and travel agencies. However, some economists warn that pent-up demand for in-person services may fade due to slowing income growth and mounting unemployment.
US manufacturing activity fell to a near three-year low in March, with new orders plunging and employment contracting, according to the Institute for Supply Management (ISM) survey. The ISM's manufacturing PMI fell to 46.3 last month, the lowest reading since May 2020, from 47.7 in February. The survey also showed a continued reduction in factory employment last month, but inflation pressures subsided, with supplier delivery performance the fastest since March 2009.