The major global manufacturing surveys for the month of October have now been published, and they are considerably more buoyant than they had been in previous months. Although it could be foolhardy to place too much weight on one month’s data – and survey data at that – these results are certainly not what would be expected if the major economies were headed towards a period of retrenchment in the manufacturing sector. This is a pleasant surprise, since earlier data had suggested that manufacturing growth could peter out during the winter months. This now seems a lot less likely. Read more
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