Demand for exports drove the fastest upturn in Asia’s factories in months during October, led by China, as Friday’s business surveys also showed UK manufacturers still expanding.
The latest batch of purchasing managers indexes (PMIs), which survey thousands of manufacturers worldwide, showed Chinese factory growth hitting an 18-month high, and British factories sustaining a solid rate of expansion.
Although data from the U.S. due later on Friday are expected to show a slight slowdown in industrial growth, taken together, the PMIs point to a gradual improvement in global economic activity.
They follow a month in which a political standoff in Washington over the U.S. debt ceiling and the sixth straight cut in IMF global economic forecasts had raised fresh concerns about the health of the global economy.
via Reuters
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