Global manufacturing is consolidating in slightly contractionary territory at 49.3 in November up from 48.8 last month and a 6th consecutive below 50.

In addition to the composite, Output (49.9), New Orders (48.9), New Export Orders (48.1) and Employment (49.2) are all indicating slight contraction. But all ticked up from last month.

Inflation is still present but edged lower. Input Prices (52.1) are still signaling more increases than Output Prices (51.0).

Along with the slightly better environment, future sentiment ticked up from 58.5 to 60.1 showing optimism.

India continues to lead the pack. Europe continue to be a mess.

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