United Kingdom manufacturing output plunges to seven-year low amid Brexit uncertainty

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Meanwhile, South Korea's manufacturing activity also remains in contractions hitting 49.0 points in August and 47.3 points in July.

KUALA LUMPUR, Sept 3 ― Malaysian manufacturers are confident that the slow economy will resurge soon despite a dip in their purchasing index this month, according to the latest data by market research outfit IHS Markit.

Yet another drop in factory conditions with the headline print being the weakest since July 2012.

"High levels of economic and political uncertainty alongside ongoing global trade tensions stifled the performance of United Kingdom manufacturers in August". At the same time, sentiment regarding the 12-month outlook for output softened to a level that was among the lowest in the series history, with optimism dampened by worries over the future trading relationship of China and the USA, as well as signs of weaker global conditions.

Saturday's data also showed China's composite PMI inched down by 0.1 points to 53, which has remained in a range of 53 to 53.4 for five consecutive months, indicating steady business expansion. The slight bump in August was seen as a clear sign of recovery, mainly fueled by enhanced production activity.

Buying activity rose slightly for the second month running, with some firms attributing this to rising output requirements.

Turkish manufacturing sector is moving towards stabilization midway through the third quarter of the year, report noted.

The three manufacturing nations have been among the most exposed to trade tensions, a cooling technology boom and slowing demand in line with a weaker global economy.

Manufacturers surveyed in the PMI data said the end of a construction spike ahead of the 2020 Tokyo Olympic Games and a scheduled sales tax hike in October are expected to hurt output volumes the coming months. "However, overall demand didn't improve, and foreign demand declined notably, leading product inventories to grow".

The reading also showed industrial upgrading continued apace, with high-tech manufacturing and consumption-related sectors maintaining rapid expansion, Zhao said.

"China's manufacturing sector showed a recovery in August, mainly due to improved production activity", said Zhong Zhengsheng, director of macroeconomic analysis with consultancy CEBM Group, a subsidiary of Caixin Insight Group.

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