PMI for Manufacturing sector expanded in November 2020, while PMI for Services sector edged up compared to the previous month yet remained below the threshold level.
Manufacturing PMI bounced to 57.6 in November 2020 with an increase of 17.3 index points compared to October 2020. The significant increase in new orders, particularly in the manufacture of textile & wearing apparel and food & beverages sectors, has mainly contributed to thisconsiderable improvement. Increase in Production sub-index, mainly on account of the manufacture of textile & wearing apparel and non-metallic mineral products sectors, together with lengthening of the Suppliers' Delivery Time across all sectors have alsocontributed to the overall increase in the Manufacturing PMI.
Remaining in the contraction territory,services sector PMI edged up to 48.8 in November 2020, reflecting a slower decline in services sector economic activities in November 2020 compared to the previous month. Thisdeterioration in services sector activities was underpinned by the declines observed in business activities and employment sub-indices of services PMI.