Is Manufacturing Showing Any Signs of Recovery?
While manufacturing production remains in decline, the Manufacturing Output Index edged up to 43.2, a five-month high. However, this improvement reflects a slower rate of contraction rather than genuine growth. Manufacturers continue to face weak demand, resulting in reduced export orders, staff cuts, and prolonged inventory destocking cycles.
Are Inflation Pressures Easing or Intensifying?
Inflationary pressures picked up in November, with input and output costs rising at the fastest pace in three months. Service providers raised prices sharply due to higher operating expenses, particularly wages, which surged in Q3 to their highest level since 1993. Meanwhile, manufacturers reported ongoing price cuts as they struggled with sluggish demand across supply chains.