Global manufacturing heats up

Several economies reported strong PMI data yesterday as global manufacturing activity increased further in October. Following the strong PMI data released by China in Sunday, major economies such as South Korea, India, the European Union, France, Germany, Britain and the United States also announced manufacturing indices.　　As of this time, the rest of the country, with the exception of US data, was better than expected and rose to a few months ' highs, indicating a further recovery in global manufacturing.　　Figures released in Monday showed a strong rebound in the October manufacturing Purchasing Managers ' Index (PMI), the highest increase in two years, boosted by a sharp increase in new orders. The euro zone's October manufacturing PMI, at 50.7, also hit its highest level in 21 months. Among them, Germany's October manufacturing PMI also exceeded the key level of 50, France October manufacturing PMI was 55.6, the eurozone member states are still the strongest performance.　　Less than 50.0 of PMI data means a contraction in manufacturing activity.　　The US ISM manufacturing index, which will be released 23 o'clock yesterday, is expected to rise to a 53-month high, compared with the September ISM data of 52.6.　　On the Asian side, though, India's manufacturing sector expanded for the seventh consecutive month, while South Korea recorded its eighth-month growth, but both countries slowed their growth. On the improvement of global manufacturing, analysts say government stimulus measures and central bank interest rate cuts have left the global economy at a low ebb from the crisis.