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Commercial and professional services in Asia best-performing sector

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Staff Writer | May 9, 2017
April’s Nikkei Asia Sector PMI data, compiled by IHS Markit, pointed to output growth across 14 of the 19 monitored sectors.
Asia service
Asia   Nikkei Asia Sector PMI
The strongest rate of expansion was registered at commercial & professional services companies, where the latest upturn was the most pronounced in the year-to-date.

A strong performance was likewise seen in the insurance sector, which climbed from middle of the rankings in March to second place.

Output in this segment grew markedly in April and at the quickest pace in almost one-and-half years.

Solid increases in activity were also noted in the construction materials, consumer services, automobiles & parts and technology equipment sectors.

Relatively modest expansions in output were recorded in healthcare services, machinery & equipment, chemicals and beverages & food.

Nonetheless, the former two categories posted faster rates of growth than in March, while chemicals and beverages & food recovered from contracting activity in the preceding survey period.

In fact, the latter saw the largest upward movement in the respective index out of the 19 covered sectors.

Marginal increases in output were noted in the transportation, general industrials, banks and software & services sectors.

The latter ranked twelfth in the league table during April, falling from first place in March.

The forestry & paper products, metals & mining, household & personal use products, real estate and pharmaceutical & biotechnology categories all recorded lower activity in April, following growth in March.

Real estate propped up the rankings.