Manufacturing PMI expanded in November 2019 recording an index value of 56.0 mainly due to the expansion in New Orders, Production and Employment.
All the sub-indices indicated an expansion, yet at a slower pace compared to October 2019. New Orders and Production expanded at a slower rate mainly due to the slowdown in manufacturing of textile and wearing apparel. Employment slowed down marginally in line with these developments.
Although the New Orders and Production expanded at a slower pace, the Stock of purchases expanded at a higher rate due to intended accumulation of stocks to fulfil the future requirements anticipating supply delays due to upcoming Christmas and New Year holidays. Further, Suppliers' Delivery Time reached a neutral level indicating that it remains the same as in the previous month.