LONDON Dec 3 The global manufacturing sector's
slump eased in November as output rose for the first time in
five months, a business survey showed on Monday.
JPMorgan's Global Manufacturing PMI, published in
conjunction with financial data company Markit, rose to 49.7 in
November from 48.8 in October.
November was its best reading since June but still slightly
below the 50 mark that divides growth from contraction.
The October reading was revised from 49.2 published last
month because the survey methodology now uses Markit's own PMI
for U.S. manufacturing, rather than the ISM survey, which is now
only used for the data before February 2010.
"Global manufacturing appears to be lifting into the year's
end," said David Hensley, director of global economics
coordination at JPMorgan.
"Survey indexes of output, new orders and employment
continue to improve, albeit from low levels, while the rate of
finished goods inventory accumulation is indicated to be quite
Chinese manufacturing output grew last month for the first
time in more than a year but a surprise contraction in U.S.
factory activity tempered optimism about the health of the world
economy, according to the PMIs by country on Monday.