Purchasing Managers' Indices for both Manufacturing and Services activities remained contracted in November 2022.

Indicating a setback in manufacturing activities on a month-on-month basis, Manufacturing PMI recorded an index value of 42.1 in November 2022. This setback was contributed by subdued performance observed in all the sub-indices, except for Suppliers’ Delivery Time. 

Services PMI recorded an index value of 49.0 in November 2022, up from 47.9 in October, yet remained slightly below the neutral threshold level. The rate of decline in services activities was softened with the improvements observed in New Businesses, Business Activities and Expectations for Activity. However, Employment and Backlogs of Work declined during the month.

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