Commenting on today’s global PMI data

Commenting on today’s global PMI data, Rupert Thompson, Head of Research at Kingswood, said: “Today’s manufacturing purchasing manager indices provided some reassurance that the manufacturing sector, which has fuelled the slowdown in global growth over the past year, has bottomed out and might be starting to recover. In China, confidence was significantly stronger than expected in November although recent hopes of a limited US-China trade deal will probably need to be vindicated if the improvement is to be sustained. In the UK and the Eurozone, meanwhile, the flash PMI estimates for November were revised higher but in both regions the indices are still in contractionary territory – unlike in China where indices have now moved into expansionary territory.”