PMI???s Reveal Global Economic Setback (Reuters)
Purchasing Managers??? Index (PMI) flash figures from both the euro zone and China reflect that the global economy grew at a milder pace in November. According to Europe???s flash PMI business survey, the pace of growth slipped from 51.9 last month to 51.5 this month (anything above 50 indicates growth). And in China, the flash figures fell to 50.4 from 50.9. While that level is barely staying above the expansion line, it does represent the fourth consecutive month of plus-50 for China. While ???flash??? PMI figures project an approximate value for the current month, they seldom differ significantly from the final PMI numbers. Now investors need to ask themselves if they???re convinced these flash figures carry enough weight to affect investments.