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Banking continues to lead Asia growth rankings in June

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Staff Writer | July 8, 2016
Nikkei Asia Sector PMI data, complied by Markit, showed that banks experienced a strong rate of expansion in June.
Asia mining
Economies in Asia   Nikkei Asia Sector PMI
Furthermore, the pace of growth was the quickest for just over a year and continued to place the sector at the top of the Asia output league table. Other notable strong performers were technology equipment, rebounding from May's contraction to register the second-fastest increase in output, while business activity at commercial & professional services providers rose at a faster rate than in May.

Healthcare services also experienced an increase in output, although the rate of growth eased and was only slight. Overall, of the 19 detailed sectors covered by the series, only six registered an expansion of output during June.

The broad sector of basic materials struggled during June, with declines in production reported by all three component sectors.

The worst performer was metals & mining, which sat at the bottom of the Asia growth rankings after experiencing the sharpest rate of output contraction in six months.

Forestry & paper products, which placed secondbottom in the league table, reported a substantial decline in production while chemicals registered a comparatively more muted fall, albeit still sharper than in May.