In global manufacturing news, metrics show that manufacturing in China is expanding. Meanwhile, numbers show that the US manufacturing market contracted last month.
This news is especially interesting because some projections actually predicted the opposite would happen!
Here's a breakdown of the numbers for both countries
Bloomberg reported, "The official manufacturing purchasing managers’ index rose to 50.2, according to data released by the National Bureau of Statistics on Saturday. That’s the first reading above 50 since April, indicating an expansion in output."
Other metrics and surveys indicate growth as well. CNBC reported, "A private survey on Monday showed China’s manufacturing activity expanded more than expected in November as the Caixin/Markit manufacturing Purchasing Managers’ Index (PMI) came in at 51.8."
Despite these signs of growth there is still a lot of uncertainty as to what will happen next due to the trade tension between China and the United States.
Reuter's said, "New export orders fell for an 18th straight month in November, albeit at a slower pace, with the sub-index rising to 48.8 from 47.0 in October. . . An additional 15% in U.S. tariffs are scheduled to take effect on about $156 billion of Chinese products on Dec. 15."
In comparison, the most recent US numbers show that the market contracted last month.
CNN reported, "The Institute for Supply Management reported activity at America's factories contracted for a fourth-straight month in November. The purchasing managers' index was only 48.1, compared with the economists' consensus forecast of 49.2."
This could also be traced back to the trade tension, among other things.