“Manufacturing is doing well but it will not be smooth sailing over the next few months", in part because of supply-chain disruptions.
Even export powerhouses Germany and Japan saw steep decreases in factory output last month as the coronavirus upended supply chains and crushed demand.
“We have now tariffed our way into a manufacturing recession in the U.S. and globally,” a chief investment officer said.
A closely-followed factory gauge reaches its lowest level in more than six years as low commodity prices continue to limit orders.
Before November of this year, the last time manufacturing activity contracted was in November 2012.
Latest data from Markit show a rebound from June's five-month low but positive economic sentiment fell for the second month in a row.
The JPMorgan Global All-Industry Output Index hit a 14 month-low, hindered by output contraction in France, Italy, Russia and Brazil.
Despite the robust growth shown by Europe's largest economy last quarter, the euro zone remains plagued by anemic demand .
