Street Calls of the Week
Investing.com -- Most Asian sectors experienced growth in September, with 13 out of 18 tracked industries showing increased business activity, according to the latest S&P Global Asia Sector PMI data.
Software & Services continued to lead the expansion with a rapid growth rate, though slightly slower than August. The Insurance sector showed the most improved performance, rebounding sharply after declining in August for the first time in 16 months, to rank second overall.
Five sectors experienced declining activity, with the Chemicals sector falling back into contraction after three consecutive months of growth. Forestry & Paper Products and Metals & Mining also showed slight reductions in output.
Healthcare dropped to last place among broad sectors due to a rapid decline in Healthcare Services activity. Notably, Healthcare Services was the only sector to record a decline in new business during September.
The data revealed widespread improvement in demand conditions, with all other sectors experiencing growth in new orders. This represented the largest number of sectors recording sales growth in the same month for almost seven-and-a-half years.
The employment picture remained mixed across Asian sectors. Half of the monitored sectors increased their payroll numbers in September, though job creation rates were generally marginal. Employment stagnated in the Technology Equipment sector, while the remaining industries recorded declines.
For the first time in six months, all monitored sectors expressed optimism regarding output growth for the coming 12 months.
The S&P Global Asia Sector PMI indices are compiled from responses to questionnaires sent to purchasing managers across over 6,000 Asian private sector companies.
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