Manufacturing activity improves in Nov, but firms cut operating costs, jobs

However, the upturn remaining subdued compared to earlier, growth rates for new orders and production remained modest

Manufacturing activity gained pace in November but as firms sharply cut operating costs, jobs losses were reported for the first time in 20 months, said a monthly global survey released on Monday.

The widely tracked Nikkei India manufacturing Purchase Managers’ Index (PMI) rose to 51.2 in November from October’s figure of 50.6, which was a two-year low. In PMI parlance, a print above 50 means expansion, while a score below that denotes contraction.

However, the upturn remained subdued compared to earlier, while growth rates for new orders and production were modest. As a result, more firms reported that they have had to