Latest data released by Markit - 2 November 2020
- Prior 50.8
The improvement here continues to reaffirm a two-paced economy across the region as the services sector is suffering for the most part. The good news in the report is that new output is seen as picking up but further optimism may be more limited moving forward.
Markit notes that:
"A welcome acceleration in manufacturing production growth was recorded during October, although with the gain in new orders lagging behind output, manufacturers built up inventory and were able to clear any work outstanding.
"Indeed, demand growth remains relatively muted, both from at home and abroad, with the challenges of COVID-19 continuing to undermine overall gains. Until the crisis has been brought under control, near-term growth is likely to remain restricted. However, looking a little further out, panellists are increasingly confident that in a year's time a recovery could be well under way."
