UK factory orders up
UK factory orders rose more than expected in November, but the manufacturers expect the output growth to slow in the next three months.
Total order book balance in UK rose to -15 in November from -28 in October, the Confederation of British Industry (CBI)’s survey showed.
Markets had expected the order book balance to rise to -24 in November.
“Manufacturing demand improved in November, following October’s more negative figures for total and export orders. Demand is now back in line with that over the summer months, suggesting that particularly weak order book readings in October may have been a one-off,” said Ian McCafferty, chief economic adviser, CBI.
Thai economy shrinks
Thailand’s economy shrank 0.2 per cent in the third quarter after a 0.6 per cent contraction in the second, putting Southeast Asia’s second-biggest economy technically in recession and reducing chances of a rate rise.
The data add to scattered signs of a slowdown in Asia -- from North Asian export powerhouses China, South Korea and Taiwan to Southeast Asian “tigers” Thailand and Singapore -- as manufacturing ebbs and governments’ stimulus spending fades.
Base metals output rebounding
China base metal output is seen rebounding in November after falling with the exception of primary aluminum in October as power supply is set to ramp up after cuts in key production zones, reports Reuters.
Smelter officials in Henan, China’s major producing province for lead and aluminum said that local power supplies curbed since the beginning of October have started returning to previous levels.
A trading manager at a large lead and zinc producer, which had stopped half of the firm’s 200,000 tonnes per year capacity in Henan last month, said that “We basically are receiving normal power supplies now. Our zinc production has resumed to about 80 per cent.
CO2 capture process test positive
Siemens Energy has successfully completed the first test phase with its CO2 capture process in a pilot facility at the Staudinger power plant operated by E.ON.
After over 3,000 operating hours it shows that the post-combustion capture process developed by Siemens (PostCap) attains a CO2 capture efficiency of over 90 per cent with practically zero solvent emissions, the company said.
