French manufacturing at five-month high in November - PMI


Employment in the sector also remained broadly stable, they added.

IHS Markit's final manufacturing Purchasing Managers' Index (PMI) has been below the 50 mark separating growth from contraction since February, but at 46.9 it was above October's 45.9 and higher than a preliminary estimate of 46.6.

PMI readings above 50 indicate expansion, while those below that level signal contraction.

Germany's export-dependent manufacturing sector contracted at a slower pace for the second month in a row in November, a survey showed on Monday, as companies sounded optimistic about their future business, Trend with reference to Reuters reports.

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The gauge of new export orders saw its first back-to-back monthly growth since early 2018.

"We would not read too much into the rebound in India's manufacturing PMI in November but with policy stimulus already in the pipeline, we think the prospects for local manufacturers will improve further over the coming months", Darren Aw, Asia Economist, Capital Economics said. "Growth rates for new orders and production were modest, despite accelerating from October's recent lows, while firms shed jobs for the first time in 20 months and continued to reduce input buying".

The official PMI polls a larger proportion of big companies and state-owned enterprises than the Caixin manufacturing PMI, which is sponsored by Caixin and compiled by London-based data analytics firm IHS Markit Ltd.

"If trade negotiations between China and the USA can progress in the next phase and business confidence can be repaired effectively, manufacturing production and investment is likely to see a solid improvement", Zhong said. Progress toward a "phase one" US-China trade agreement may have helped lift sentiment.