(RTTNews) - China's manufacturing sector grew at the fastest pace in four months in April, survey results from IHS Markit showed on Friday.
The Caixin manufacturing Purchasing Managers' Index rose to 51.9 in April from an 11-month low of 50.6 in March. A score above 50 indicates expansion in the sector.
Driven by improved market conditions and greater customer demand, total new orders grew for the eleventh straight month in April.
Greater inflows of new work led goods producers in China to expand production volumes again in April, with the rate of expansion also improving to a four-month high.
The sustained increase in sales led to a further accumulation in backlogs of work. Consequently, manufacturers added to their staff numbers for the first time in five months.
Prices data showed a further rapid increase in input costs amid reports of supplier price hikes. The latest increase in expenses was the quickest since November 2017.
Companies often passed on higher costs to customers through higher factory gate charges, which rose sharply overall.
Output expectations remained markedly upbeat in April, though the level of positive sentiment edging down to a three-month low.
"Policymakers have expressed concerns about rising commodity prices on several occasions and urged adjusting raw material markets and easing businesses' cost pressure," Wang Zhe, senior economist at Caixin Insight Group said.
In the coming months, rising raw material prices and imported inflation are expected to limit policy choices and become a major obstacle to the sustained economic recovery, Wang added.
(RTTNews) - Nokia Corp. (NOK) reported that its profit for the first-quarter was 263 million euros or 0.05 euros per share, compared to a loss of 115 million euros or 0.02 euros per share in the previous year.
Comparable earnings per share was 0.07 euros up from 0.01 euros last year.
Net sales for the quarter grew to 5.08 billion euros from 4.91 billion euros in the previous year.
Constant currency net sales were up 9% year-on-year, driven by strong growth in Network Infrastructure and solid growth in Mobile Network.
For 2021, the company continues to expect comparable operating margin of 7 percent to 10 percent, and net sales, adjusted for currency fluctuations, of 20.6 billion euros to 21.8 billion euros.
For 2023, Nokia anticipates comparable operating margin of 10-13 percent, and net sales, adjusted for currency fluctuations, to grow faster than the market.
Granite (NYSE:GVA) announced today that it has begun work for a $13 million task order at the Homewood, Illinois Station as part of a Multiple Award Construction Contract (MACC) for Americans with Disabilities Act (ADA) Stations Program by The National Railroad Passenger Corporation (Amtrak). The project contract will be included in Granite’s third quarter 2020 backlog.
Granite was one of eight contractors selected in 2019 to participate in Amtrak’s ADA Stations Program MACC. The $100 million indefinite delivery/indefinite quantity (IDIQ) competitive MACC is comprised of task orders ranging from $25 thousand to $25 million, for five base years ending in 2023, plus five, one-year options through 2028. Granite is currently completing four ADA compliance upgrade projects that were previously awarded by Amtrak under this MACC Program, two in Montana and two in New York.
Amtrak’s ADA Stations Program is a comprehensive program to make the Amtrak-served stations for which Amtrak has ADA responsibility, ADA compliant and accessible. In this task order, Granite will be responsible for the renovation of a portion of the existing Homewood station's building and surrounding site. Scope of work will include modifications to the sidewalks and parking lot, restrooms, existing waiting room seating and wall mounted accessories; and replacement of station entry doors, and ramps at both station entrances and landings. Additional renovations include interior and exterior signage, and the replacement of the existing track level asphalt platform with a new 650-foot boarding platform; the construction of a weather protected ramp from the station level to the existing tunnel; and modernization of platform elevator.
"Given that this project includes multiple stakeholders and a fast-paced schedule, Granite's team has provided and will maintain a detailed phasing plan to ensure this project is safe, high-quality and is completed on-time,” said Granite Regional Vice President Benj Harding. "The robust phasing plan has been developed to minimize disruption to the traveling public.”
Construction is underway and expected to conclude in December 2021.
Granite is America’s Infrastructure Company™. Incorporated since 1922, Granite (NYSE:GVA) is one of the largest diversified construction and construction materials companies in the United States as well as a full-suite provider in the transportation, water infrastructure and mineral exploration markets. Granite’s Code of Conduct and strong Core Values guide the Company and its employees to uphold the highest ethical standards. In addition to being one of the World’s Most Ethical Companies for eleven consecutive years, Granite is an industry leader in safety and an award-winning firm in quality and sustainability. For more information, visit the Granite website, and connect with Granite on LinkedIn, Twitter, Facebook and Instagram.
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