Manufacturing activity continued to lag in November in the US amid a decline in inventories and new orders, according to the latest ISM Manufacturing reading released Monday.
The reading came in at 48.1 vs. an expectation of 49.4 and the previous month’s reading of 48.3; November was the fourth straight month below the expansion level in the US.
The monthly UK manufacturing snapshot from IHS Markit/Cips shows the headline purchasing managers’ index (PMI) slipped to 48.9 in November from 49.6 in October. It has been stuck for seven months below the 50 mark that separates expansion from contraction.
In contrast, a gauge of China’s manufacturing sector jumped unexpectedly in November, signaling a recovery in activity amid government support and a stabilizing global economy. The official manufacturing purchasing managers’ index rose to 50.2, according to data released by the National Bureau of Statistics on Saturday. That’s the first reading above 50 since April, indicating an expansion in output.
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