Global Manufacturing Activity Remains Weak Amid Soft Demand

Overview

• Manufacturing activity in the US, Canada, Eurozone, Germany, UK, Turkey, Russia, and several Asian countries including China, Japan, South Korea, Taiwan, Vietnam, Malaysia, Indonesia, and the Philippines remained weak in November due to soft global demand.
• China's factory activity unexpectedly expanded in November, driven by rising orders, according to the Caixin/S&P Global manufacturing PMI, despite the official PMI showing a contraction.
• India's manufacturing growth accelerated in November on robust output and new orders, despite international demand hitting a five-month low.
• Japan's factory activity shrank at the fastest pace in nine months in November as sluggish domestic and international demand squeezed firms' order books.
• Manufacturing activity also shrank in Taiwan, Vietnam and Malaysia, but expanded in India, Indonesia and the Philippines.