China's manufacturing activity expands faster in November

Jon Howard
December 3, 2017

China's manufacturing activity accelerated in November, official figures showed Thursday, beating expectations as strengthening domestic and global demand boosted production in the world's second-largest economy.

The Nikkei India Manufacturing Purchasing Managers Index (PMI), a composite indicator of manufacturing performance, increased to 52.6 in November from 50.3 reported for October. A PMI score of above 50.0 indicates economic growth. Nonetheless, data indicated that client demand was relatively subdued across both the domestic and external markets, as new export sales also rose modestly.

The pace of growth in the Canadian manufacturing sector was little changed in November as an uptick in new orders and employment was offset by slower production, data showed on Friday. They track output, new orders, ...

Samuel Tombs, chief United Kingdom economist at Pantheon Macroeconomics, said: "UK manufacturers are being swept along by the Eurozone's resurgence - the single currency area's PMI increased to 60.1, from 58.5 in October - but remain cautious about the outlook".

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"Furthermore, the headline PMI remained well above its long-run trend level of 50.8", the report said, adding the workforce rate rose the fastest in 34 months.

India's manufacturing sector in November recorded the strongest improvement in business activity in 13 months as new orders picked up supported by reduction in GST rates and strong demand conditions, a survey has said.

"That said, manufacturers remain very cautious about the outlook and likely won't invest enough to enable the current period of strong output growth to continue for long".

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