November PMI recovers most of October’s dip

The seasonally adjusted Barclays Purchasing Managers’ Index (PMI) has bounced back with a 2.4 index point rise to 48.3 in November, reversing October’s 2.6 index point decline to 45.9. However, factory sector output growth remains under pressure, as indicated by the index staying below the neutral 50-point mark for the fourth consecutive month, as well as the average for the first two months of the fourth quarter registering 1.8 points below that of the third quarter.