KXIP vs KKR Live Score

Beating all expectations of sluggish economy, the Purchasing Managers' Index (PMI) jumped to 58.2 in the month, up from 56.6 in October. Similarly, new orders rose to the greatest extent since April 2000.

"The latest reading marked the ninth consecutive month of growth in the Turkish manufacturing sector - the longest seen since 2014", according to the survey by London-based global data company IHS Markit prepared in collaboration with the Istanbul Chamber of Industry (─░SO). On its current course, manufacturing production is rising at a quarterly rate approaching 2%, providing a real boost to the pace of broader economic expansion.

Growth in China's manufacturing sector continued in November albeit at a slower pace than in the previous month with only modest increases in output.

While higher foreign demand contributed, the domestic market remained the key driver as growth in new export orders was well below that of total new business inflows.

Additional manpower enabled companies to adjust to increased workloads, resulting in a further decline in backlogs.

Firms also said that they were replenishing stocks as well as building up buffers in anticipation of higher demand.

There were signs, however, that inflationary pressures remained strong.

Rising costs were commonly associated with higher prices paid for imported raw materials, with demand for inputs exceeding supply. "Growth in output and new orders picked up to the fastest since October 2016, reportedly supported by reductions in GST rates and stronger underlying demand conditions", said Aashna Dodhia, Economist at IHS Markit and author of the report.

There were indications, meanwhile, that suggested the upturn would gather pace in December.

Still, the British PMI was not as strong as the euro zone's and export orders grew faster in other major European economies - suggesting the pound's fall since last year's Brexit vote has yet to give British factories a big advantage.


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