RTRS: Global factory PMI dips as growth momentum slows
LONDON, Dec 1 (Reuters) - Global factory business activity grew for the fifth successive month in November but at a slower pace than the previous month as growth eased sharply in Japan, a survey showed on Tuesday.
The global index, produced by JP Morgan with research and supply management organisations, dipped to 53.6 last month from October's 39-month high of 54.4. [ID:nGEE5B01UY]
The factory output index dropped to 56.7 in November from 58.3 the previous month, the sixth month it has been above the 50.0 mark that divides growth from contraction.
"The headline PMI fell back slightly in November, but the global new orders and production indexes remained at very elevated levels. National PMIs point to broadly-based manufacturing growth," said David Hensley, a director at JP Morgan.
Earlier data from the euro zone, coming after generally buoyant Asian PMIs, showed the 16-nation bloc's manufacturing sector grew for the second consecutive month, while the UK also continued to see growth, albeit at a slower pace than expected.
The Institute for Supply Management said the U.S. manufacturing sector grew in November for the fourth straight month, but also at a slower rate than expected. The index combines survey data from countries including the United States, Japan, Germany, France, Britain, China and Russia. (Reporting by Jonathan Cable; editing by Stephen Nisbet) ((jonathan.cable@thomsonreuters.com; +44 20 7542 4688: Reuters messaging: rm://jonathan.cable.reuters.com@reuters.net))