Manufacturing activity edged up in November, but weak demand persist
Manufacturing Purchasing Managers’ Index (PMI) inched up in November (47.9; Oct: 46.8), as the slowdown softened
- While the index continues to signal contraction by remaining below the neutral threshold of 50.0, it has risen to a seven-month high, indicating a potential upturn in manufacturing activity in the near future. Overall, the ongoing slowdown is due to weak demand from domestic and international market.
Production moderated amid subdued demand conditions
- New orders and exports continue to ease due to a persistently weak demand environment. However, the pace of slowdown has eased since August.
- Backlogs of work have continued to decrease, although the rate of depletion is weaker than in October.
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