The JPMorgan Global Manufacturing PMI posted 52.2 in November, a reading only slightly above October's low of 51.9. The PMI has now remained above the no-change mark of 50.0 in each of the past fifty-three months.
November data pointed to a further moderate increase in the level of global manufacturing production. Although rising from October's fifty-one month low of 52.5 to 53.3, the Global Manufacturing Output Index remained below its long-run trend level (54.4). Growth was again above global average in China, India and Brazil (comfortably so in the case of India and Brazil), despite these nations posting slower rates of increase than one month earlier. Although output in the US and Japan rose only marginally, this was an improvement on the contractions recorded for October. The Eurozone and the UK saw their respective rates of expansion improve, with the UK regaining most of the momentum lost one month ago.