Turkey’s manufacturing PMI rises to 49.5 in November

10 Décembre, 2019, 21:24 | Auteur: Auguste Feret
  • China's November factory activity unexpectedly expands at quickest pace in almost three years- Caixin PMI

"Indian manufacturing production increased only moderately in November, albeit at a quicker rate than October's two-year low", the India Manufacturing PMI report said.

Turkey's Purchasing Managers' Index (PMI) for the manufacturing sector rose to 49.5 in November, according to a business survey on December 2.

Similarly, the Caixin/IHS Markit manufacturing PMI reading was 51.8, signaling the sector's fastest rate of expansion since December 2016.

The rebound of China's manufacturing activity in November indicated improved external and domestic demand in light of effective government measures to shore up growth and the recent de-escalation of the trade tension between Beijing and Washington, according to a survey of private and smaller firms on Monday, reinforcing the optimistic official data released over the weekend. A reading above 50 indicates a sector is expanding, while one below 50 suggests it's contracting. New orders rose 51.3, of which the export and import orders increased to 48.8 and 49.8, respectively, showing growing purchasing power and productivity. Employment decreased for the eighth straight month, with the steepest pace of job losses since September 2012.

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Companies bought more to meet the needs of higher production, with the quantity-of-purchases gauge rising to the highest since January 2018. "This is a major constraint on economic recovery, which requires continuous policy support", said Zhong Zhengsheng, director of macroeconomic analysis with consultancy CEBM Group, a subsidiary of Caixin Insight Group. Stricter environmental policies and market uncertainty were key factors weighing on confidence.

"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", he said.

Last month's figure was up 0.9 points from previous month, revealed the report of London-based global data company IHS Markit, prepared in collaboration with the Istanbul Chamber of Industry.

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