593
Manufacturing PMI increased to 57.0 on a month-on-month basis in November 2023, driven by seasonal factors. The index exceeded the neutral threshold after March 2023, with a positive contribution from all the sub-indices.
The increases in New Orders were largely driven by the manufacture of food and beverages and textiles and apparel sectors. Moreover, the increase in Production was largely due to the manufacture of food and beverages sector, owing to the seasonal demand.
Employment and Stock of Purchases also increased on a month-on- month basis in line with the improvements in New Orders and Production.
