Philippines manufacturing PMI rose to 54.8 in November

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Activity in the United Kingdom manufacturing sector picked up in November, hitting its highest level since August 2013, according to data released on Friday.

The country's manufacturing purchasing managers' index (PMI) came in at 51.8, up from 51.6 in October, according to the National Bureau of Statistics (NBS).

Some companies also noted higher sales to clients in Europe, the Americas, Asia and the Middle East.

Manufacturers said domestic demand and a rebound in the energy sector helped drive new orders in November.

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Companies were more willing to buy, as the sub-index for purchase volume surged to 53.5, the second highest reading this year.

"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. 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. Within manufacturing, consumer goods was the best-performing category, although growth was also recorded in the intermediate and investment goods.

The pace of growth in the Canadian manufacturing sector was little changed in November as an uptick in new orders and employment was offset by slower production, data showed on Friday. This suggests that capital spending, especially in the domestic market, is showing signs of renewed vigour. Factory gate prices rose as a effect, with the pace of charge inflation the highest since February, noted IHS Markit. "The coming months should provide greater evidence on any impact that the recent interest rate increase from the Bank of England will have on reining in cost pressures".

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