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<a href="https://www.wionews.com/business-economy/indias-manufacturing-growth-hits-3-month-high-1565">India's manufacturing activity</a> expanded at its quickest pace in nearly eight years in January with robust growth in new orders and output, a private survey showed on Monday, suggesting the economy may be getting back on firmer footing.

In response to the jump in sales, factories hired new workers at the fastest rate in more than seven years.

If sustained, the improvement in business conditions could point to a gradual economic recovery in the coming months, as forecast by analysts in a Reuters poll last month, after growth slowed to a more than six-year low in <a href="https://www.wionews.com/world/china-fourth-quarter-gdp-grows-6-in-line-with-expectations-and-hovering-near-30-year-low-274764">July-September quarter</a>.

The Nikkei Manufacturing Purchasing Managers' Index, compiled by IHS Markit, jumped to 55.3 last month from 52.7 in December. It was the highest reading since February 2012 and above the 50-mark separating growth from contraction for the 30th straight month.

"The PMI results show that a notable rebound in demand boosted the growth of sales, input buying, production and employment as firms focused on rebuilding their inventories and expanding their capacities in anticipation of further increases in new business," Pollyanna De Lima, principal economist at IHS Markit, said in a news release.

A new orders sub-index that tracks overall demand hit its highest level since December 2014 and output grew at its fastest pace in over seven and a half years, pushing manufacturers to hire at the strongest rate since August 2012.

Meanwhile, both input costs and output prices rose at a slower pace, indicating overall inflation may have eased after hitting a more than five year high of 7.35 per cent&nbsp;in December, although probably not below the <a href="https://www.wionews.com/business-economy/nominal-gdp-growth-for-2020-21-estimated-at-10-per-cent-says-fm-sitharaman-277995">Reserve Bank of&nbsp;India</a>'s medium-term target of 4 per cent.

That might keep the central bank, which cut its key interest rate by a cumulative 135 basis points last year, on the sidelines over the coming months.

"To complete the good news, there was also an uptick in business confidence as survey participants expect buoyant demand, new client wins, advertising and product diversification to boost output in the year ahead," added De Lima.

India's manufacturing activity expanded at its quickest pace in nearly eight years in January with robust growth in new orders and output, a private survey showed on Monday, suggesting the economy may be getting back on firmer footing.

India's manufacturing activity expanded at its quickest pace in nearly eight years in January with robust growth in new orders and output, a private survey showed on Monday, suggesting the economy may be getting back on firmer footing. In response to the jump in sales, factories hired new workers at the fastest rate in more than seven years. If sustained, the improvement in business conditions could point to a gradual economic recovery in the coming months, as forecast by analysts in a Reuters poll last month, after growth slowed to a more than six-year low in July-September quarter. The Nikkei Manufacturing Purchasing Managers' Index, compiled by IHS Markit, jumped to 55.3 last month from 52.7 in December. It was the highest reading since February 2012 and above the 50-mark separating growth from contraction for the 30th straight month. "The PMI results show that a notable rebound in demand boosted the growth of sales, input buying, production and employment as firms focused on rebuilding their inventories and expanding their capacities in anticipation of further increases in new business," Pollyanna De Lima, principal economist at IHS Markit, said in a news release. A new orders sub-index that tracks overall demand hit its highest level since December 2014 and output grew at its fastest pace in over seven and a half years, pushing manufacturers to hire at the strongest rate since August 2012. Meanwhile, both input costs and output prices rose at a slower pace, indicating overall inflation may have eased after hitting a more than five year high of 7.35 per cent in December, although probably not below the Reserve Bank of India's medium-term target of 4 per cent. That might keep the central bank, which cut its key interest rate by a cumulative 135 basis points last year, on the sidelines over the coming months. "To complete the good news, there was also an uptick in business confidence as survey participants expect buoyant demand, new client wins, advertising and product diversification to boost output in the year ahead," added De Lima.

India's January manufacturing activity hits near eight-year-high as orders jump

Harley-Davidson Inc reported its steepest decline in domestic sales in eight years on Tuesday, and warned that motorcycle shipments for the year will be at the lower end of its forecast as it faces higher tariff-related costs.

Milwaukee-based Harley's shares reversed course and were down 5 percent, giving up premarket gains after company the recorded its best quarterly profit in two years.

"We expect U.S. industry to remain challenged into 2019 and will continue to proactively address the weak U.S. industry," Chief Financial Officer John Olin said on a conference call with analysts.

Harley's demographic challenges in the domestic market are well documented - core customers are growing older and efforts to attract new and young riders have yet to show results.

In addition, President Donald Trump's call to boycott the motorcycle manufacturer for its decision to move production for European markets overseas has only compounded the company's troubles.

Harley said on Tuesday it could see up to $48 million in costs from tariffs in 2018.

Rising costs and a tit-for-tat tariff war with China have weighed on the shares of most U.S. manufacturers. Harley's shares are down about 30 percent so far this year and have underperformed the broader S&amp;P 500 index.

Analysts at Goldman Sachs last week cut their 12-month price target for the stock, while BMO Capital Markets downgraded the company's shares on Friday, citing its poor performance.

To be sure, the company still dominates the local heavyweight motorcycle market, but rivals such as Polaris are chipping away at its market share.

To counter weak demand at home, Harley plans to make deeper inroads into some of the fastest growing two-wheeler markets in Asia through lightweight motorcycles.

Retail sales in the United States, which accounts for more than half of the company's sales, fell 13.3 percent in the three months ended Sept. 30 from a year ago. Total retail sales were down 7 percent. Analysts expect 2018 to be the third straight year of declining sales.

International retail sales, however, rose about 3 percent, led by Europe.

"First look (EPS beat) looks good, but when you dig further you see that retail was worse than expected, especially in the United States," Wedbush analyst James Hardiman said.

The company's net income jumped 67 percent to $113.86 million for the third quarter, helped by cost-cutting and higher international sales. Excluding manufacturing optimization costs, the company earned 78 cents a share.

Revenue from motorcycles and related products rose 16.8 percent to $1.12 billion.

Analysts on average expected a profit of 53 cents a share and revenue of $1.07 billion, according to data from Refinitiv.

The company now expects 2018 shipments forecast to be at the low end of its guidance of between 231,000 and 236,000 motorcycles.

Harley-Davidson Inc reported its steepest decline in domestic sales in eight years on Tuesday, and warned that motorcycle shipments for the year will be at the lower end of its forecast as it faces higher tariff-related costs.

Harley-Davidson Inc reported its steepest decline in domestic sales in eight years on Tuesday, and warned that motorcycle shipments for the year will be at the lower end of its forecast as it faces higher tariff-related costs. Milwaukee-based Harley's shares reversed course and were down 5 percent, giving up premarket gains after company the recorded its best quarterly profit in two years. "We expect U.S. industry to remain challenged into 2019 and will continue to proactively address the weak U.S. industry," Chief Financial Officer John Olin said on a conference call with analysts. Harley's demographic challenges in the domestic market are well documented - core customers are growing older and efforts to attract new and young riders have yet to show results. In addition, President Donald Trump's call to boycott the motorcycle manufacturer for its decision to move production for European markets overseas has only compounded the company's troubles. Harley said on Tuesday it could see up to $48 million in costs from tariffs in 2018. Rising costs and a tit-for-tat tariff war with China have weighed on the shares of most U.S. manufacturers. Harley's shares are down about 30 percent so far this year and have underperformed the broader S&P 500 index. Analysts at Goldman Sachs last week cut their 12-month price target for the stock, while BMO Capital Markets downgraded the company's shares on Friday, citing its poor performance. To be sure, the company still dominates the local heavyweight motorcycle market, but rivals such as Polaris are chipping away at its market share. To counter weak demand at home, Harley plans to make deeper inroads into some of the fastest growing two-wheeler markets in Asia through lightweight motorcycles. Retail sales in the United States, which accounts for more than half of the company's sales, fell 13.3 percent in the three months ended Sept. 30 from a year ago. Total retail sales were down 7 percent. Analysts expect 2018 to be the third straight year of declining sales. International retail sales, however, rose about 3 percent, led by Europe. "First look (EPS beat) looks good, but when you dig further you see that retail was worse than expected, especially in the United States," Wedbush analyst James Hardiman said. The company's net income jumped 67 percent to $113.86 million for the third quarter, helped by cost-cutting and higher international sales. Excluding manufacturing optimization costs, the company earned 78 cents a share. Revenue from motorcycles and related products rose 16.8 percent to $1.12 billion. Analysts on average expected a profit of 53 cents a share and revenue of $1.07 billion, according to data from Refinitiv. The company now expects 2018 shipments forecast to be at the low end of its guidance of between 231,000 and 236,000 motorcycles.

Harley-Davidson reports steepest decline in sales in 8 years

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