This year so far has proven exceptionally challenging for Chinese industries. According to data from the National Bureau of Statistics (NBS) released on Sunday, earnings fell by 15.5% over the course of the first seven months of the year.

In an accompanying statement, NBS statistician Sun Xiao explained that “Commodity prices are running low, the pressure on raw material costs in the midstream and downstream industries has eased. Unit cost of industrial enterprises has improved overall.” Xiao added that unit costs in July decreased on a year-over-year basis for the first time since the start of the year.

The post China’s Industrial Profits Decline For Seventh Straight Month appeared first on theprimarymarket.com.

Data from China’s National Bureau of Statistics showed that the nation’s official manufacturing purchasing managers’ index (PMI) was down from 51.9 in March to 49.2 in April. According to the measurement, 50 points is the mark that separates expansion and contraction. The first contraction since December, April’s result fell short of the 51.4 point rating expected by analysts according to a Reuters poll.

The politburo convened on Friday amid concerns about building toward a sustainable economic recovery. Here, top policymakers from the ruling Communist Party determined that increasing demand will be critical to putting growth back on track. Net exports for the period fell from 50.4 in March to 47.6.

China’s manufacturing sector, which provides 18% of the country’s total employment, is struggling to perform as a result of wavering demand. The government is looking to implement several initiatives this week to revive the sector, including support of vehicle exports, issuing visas for foreign workers, and providing subsidiaries to companies that hire college graduates.

The post China Manufacturing Declines in April appeared first on theprimarymarket.com.

“What we saw maybe three weeks ago was weakness in pricing and demand, even just filing up the fourth quarter was difficult,” Kestenbaum stated in an interview. “Prices have turned and people don’t want to miss the bottom, so they’re trying to replenish inventories.”

Prices have fallen by over 50% throughout the course of the year as a result of falling demand. Steel prices have fallen by 15% in just the past three months alone, thereby making it difficult for steel producers to sell the materials required for auto manufacturing and construction.

Although Kestenbaum does not expect an “explosive year” in 2023, he does believe that signs indicate that the steel industry will improve compared to the current year. He believes that prices will experience a sharp uptick at the start of the year before mellowing out in the later months.

The post Steel to Rebound in 2023, Stelco CEO Claims appeared first on theprimarymarket.com.

The U.S. manufacturing giant shifted its full-year adjusted profit from $2.40 to $2.80 per share. Previously, expectations sat at $2.80 to $3.50 per share. Additionally, the company revealed that its adjusted profit for the quarter ending September fell to $1.06 billion.

Chief Financial Officer Carolina Dybeck Happe explained last month that as a result of General Electric’s supply chain issues, the company has struggled to deliver products to customers on time. In terms of its weakened renewable energy business, the expiry of renewable electricity production tax credits last year has created uncertainty around policy, thereby damaging customer confidence. This decline in business led General Electric to lay off workers at its renewable business’ onshore wind unit.

General Electric is not alone in facing its supply bottleneck, with supply shortages affecting U.S. manufacturing companies across the board. The company’s shares fell by 7.3% on Tuesday morning before the bell.

The post GE Slashes Annual Forecast Following Decline in Adjusted Profit appeared first on theprimarymarket.com.

Material costs continued to decline for a fifth consecutive month, bringing much-needed relief in the face of mounting inflationary pressures. This is due to recession concerns and a weaker global economy pulling down the price of commodities such as metals and oil.

SM’s Manufacturing Business Survey Committee reported that 10 manufacturing industries experienced growth for the month, with mineral products, petroleum, and transportation equipment leading the pack.

“Sentiment remained optimistic regarding demand, with five positive growth comments for every cautious comment,” Timothy Fiore, chair of ISM’s Manufacturing Business Survey Committee reflected. Still, Fiore warned that a weakening economy continues to pose a genuine concern.

The United States manufacturing sector fared better than a multitude of industries in other regions. Asian and European manufacturing industries continued to struggle as the war in Ukraine and an economic slowdown in China takes their toll.

Industry growth also seemed to boost employment figures, with the ISM’s employment gauge rising to a five-month high of 54.2.

The post Manufacturing Growth Sustained as Inflation Pressure Eased appeared first on theprimarymarket.com.

This year so far has proven exceptionally challenging for Chinese industries. According to data from the National Bureau of Statistics (NBS) released on Sunday, earnings fell by 15.5% over the course of the first seven months of the year.

In an accompanying statement, NBS statistician Sun Xiao explained that “Commodity prices are running low, the pressure on raw material costs in the midstream and downstream industries has eased. Unit cost of industrial enterprises has improved overall.” Xiao added that unit costs in July decreased on a year-over-year basis for the first time since the start of the year.

The post China’s Industrial Profits Decline For Seventh Straight Month appeared first on theprimarymarket.com.

Data from China’s National Bureau of Statistics showed that the nation’s official manufacturing purchasing managers’ index (PMI) was down from 51.9 in March to 49.2 in April. According to the measurement, 50 points is the mark that separates expansion and contraction. The first contraction since December, April’s result fell short of the 51.4 point rating expected by analysts according to a Reuters poll.

The politburo convened on Friday amid concerns about building toward a sustainable economic recovery. Here, top policymakers from the ruling Communist Party determined that increasing demand will be critical to putting growth back on track. Net exports for the period fell from 50.4 in March to 47.6.

China’s manufacturing sector, which provides 18% of the country’s total employment, is struggling to perform as a result of wavering demand. The government is looking to implement several initiatives this week to revive the sector, including support of vehicle exports, issuing visas for foreign workers, and providing subsidiaries to companies that hire college graduates.

The post China Manufacturing Declines in April appeared first on theprimarymarket.com.

“What we saw maybe three weeks ago was weakness in pricing and demand, even just filing up the fourth quarter was difficult,” Kestenbaum stated in an interview. “Prices have turned and people don’t want to miss the bottom, so they’re trying to replenish inventories.”

Prices have fallen by over 50% throughout the course of the year as a result of falling demand. Steel prices have fallen by 15% in just the past three months alone, thereby making it difficult for steel producers to sell the materials required for auto manufacturing and construction.

Although Kestenbaum does not expect an “explosive year” in 2023, he does believe that signs indicate that the steel industry will improve compared to the current year. He believes that prices will experience a sharp uptick at the start of the year before mellowing out in the later months.

The post Steel to Rebound in 2023, Stelco CEO Claims appeared first on theprimarymarket.com.

The U.S. manufacturing giant shifted its full-year adjusted profit from $2.40 to $2.80 per share. Previously, expectations sat at $2.80 to $3.50 per share. Additionally, the company revealed that its adjusted profit for the quarter ending September fell to $1.06 billion.

Chief Financial Officer Carolina Dybeck Happe explained last month that as a result of General Electric’s supply chain issues, the company has struggled to deliver products to customers on time. In terms of its weakened renewable energy business, the expiry of renewable electricity production tax credits last year has created uncertainty around policy, thereby damaging customer confidence. This decline in business led General Electric to lay off workers at its renewable business’ onshore wind unit.

General Electric is not alone in facing its supply bottleneck, with supply shortages affecting U.S. manufacturing companies across the board. The company’s shares fell by 7.3% on Tuesday morning before the bell.

The post GE Slashes Annual Forecast Following Decline in Adjusted Profit appeared first on theprimarymarket.com.

Material costs continued to decline for a fifth consecutive month, bringing much-needed relief in the face of mounting inflationary pressures. This is due to recession concerns and a weaker global economy pulling down the price of commodities such as metals and oil.

SM’s Manufacturing Business Survey Committee reported that 10 manufacturing industries experienced growth for the month, with mineral products, petroleum, and transportation equipment leading the pack.

“Sentiment remained optimistic regarding demand, with five positive growth comments for every cautious comment,” Timothy Fiore, chair of ISM’s Manufacturing Business Survey Committee reflected. Still, Fiore warned that a weakening economy continues to pose a genuine concern.

The United States manufacturing sector fared better than a multitude of industries in other regions. Asian and European manufacturing industries continued to struggle as the war in Ukraine and an economic slowdown in China takes their toll.

Industry growth also seemed to boost employment figures, with the ISM’s employment gauge rising to a five-month high of 54.2.

The post Manufacturing Growth Sustained as Inflation Pressure Eased appeared first on theprimarymarket.com.