Global manufacturing showed tentative signs of recovery in November. Output and new orders saw marginal gains, while the trend in employment stabilized after job cuts in the prior six months. International trade remained a drag on the sector, however, as new export business decreased for the fifteenth successive month.
The J.P. Morgan Global Manufacturing PMI posted a seven-month high of 50.3 in November, moving back above the 50.0 line dividing expansion from contraction for the first time since April. That said, the level of the PMI is consistent with only a slight improvement in overall operating performance.