Nikkei Asia Sector PMI™
Pharmaceuticals & Biotechnology output growth accelerates in October:
▪ Pharmaceuticals & Biotechnology output growth quickens to eight-month high
▪ Forestry & Paper Products producers observe marked expansion in output
▪ Sharp drop in Healthcare Services output in October
According to the latest Asia Sector PMI™ data, compiled by IHS Markit and sponsored by Nikkei, business activity increased across the majority of monitored sectors in Asia at the beginning of the final quarter of 2018. The Pharmaceuticals & Biotechnology industry observed the sharpest expansion in output, where the rate of growth hit an eight-month high. At the other end of the spectrum, Healthcare Services providers recorded the jointsharpest contraction in business activity since data collection began over 11 years ago.
Meanwhile, Forestry & Paper Products ranked second in the output growth table for October, where the rate of expansion accelerated to a seven-month high and was solid overall. This was a stark contrast to a mild reduction seen in the previous survey period.
Expansionary trends in the Automobiles & Parts and Construction Materials sectors ended during October, with production falling following strong increases in September. Elsewhere, growth momentum slowed across several monitored sectors including Metals & Mining, Consumer Services, General Industrials and Commercial & Professional Services.