Insights
Market Review - November 2020
November resulted in a large drop in the flash composite PMI figure for November which declined to 45.1 from 50 the previous month.
November Overview
This resulted in a large drop in the flash composite PMI figure for November which declined to 45.1 from 50 the previous month. Much like other economies, the services sector was the laggard, falling to a six-month low of 41.3; manufacturing PMI fell but remained relatively high at 53.8, signalling expansion. Inflation also remained negative for the 3rd consecutive month in October, a trend likely to continue for November. Consumer confidence has also taken a hit, falling to the lowest level since May of this year as worries around the negative impact of the lockdown on personal finances and employment take hold.
