Global Economic Analysis and News of Note
- The JP Morgan global purchasing managers’ index (PMI) fell to 51.2 in November from 51.3 in October. North American and Eurozone manufacturing remained the bright spots globally while readings in Asia continued to be mixed. JP Morgan said, “The rate of expansion signaled by the headline PMI remained relatively lackluster … meaning that November continued the subdued run of data for the global manufacturing sector through 2015 so far.”
- The Markit PMI for the Eurozone increased to 52.8 in November from 52.3 in October as production and new orders increased in all Eurozone nations except Greece. Markit said, “The Eurozone manufacturing upturn gained further momentum during November, with rates of expansion in production and new orders the fastest for around one-and-a-half years.” The Markit PMI for the United Kingdom fell, however, declining to 52.7 in November from 55.2 in October as output and the rate of new orders slowed.
- The Caixin PMI for China increased to 48.6 in November from 48.3 in October as output stabilized. Caixin said, “Data indicated that weaker domestic demand had acted as a drag on new order books, as new export business expanded in November and at the quickest rate in 13 months.” Other PMI readings from Asia were mixed. The Nikkei PMI reading for Japan increased to 52.6 in November from 52.4 in October and is now at its highest level since March 2014. South Korea’s index held steady at 49.1 from October to November; Taiwan’s PMI increased to 49.5 in November from 47.8 in October; and Vietnam’s fell to 49.4 in November from 50.1 in October.
- As a reminder, all PMI readings can be found here.