Philippines manufacturing PMI rose to 54.8 in November

Businesses reported increased demand from Britain and overseas giving the highest PMI reading in four years

"The latest reading marked the ninth consecutive month of growth in the Turkish manufacturing sector - the longest seen since 2014", according to the survey by London-based global data company IHS Markit prepared in collaboration with the Istanbul Chamber of Industry (İSO).

The PMI is a composite index representing the weighted average of five sub-components: new orders, output, employment, suppliers' delivery time and stocks.

A reading above 50 indicates economic expansion, while a reading below 50 points toward contraction, Nikkei explained. The manufacturing PMI data suggests that both domestic demand and exports have recovered in November, after a weak October. Investment goods new orders, in particular, were strong and increased at the fastest pace since August 1994.

Additional manpower enabled companies to adjust to increased workloads, resulting in a further decline in backlogs.

Official figures on British manufacturing, which painted a gloomier view than the PMI surveys for much of this year, have also now started to show improvement.

Factories also stepped up purchasing activity to meet current and future demand, with the rise in buying levels the highest since December previous year.

Stranger Things officially renewed for season 3 on Netflix
The first two seasons of the show follow the supernatural disappearance of a young boy in a small, in town in the 1980s. The good news is that a Season 3 is coming, but, of course, we're going to have to wait a little while for it.

Greater output also led to an accumulation in post-production inventories, the survey found.

The Reserve Bank of India is likely to keep interest rates steady at its policy meeting next week, with stronger inflation expectations leaving it little room to ease, a recent Reuters poll of economists showed.

"With demand often exceeding supply, we're seeing a shift to a sellers' market, with growing numbers of suppliers able to hike prices".

To protect profit margins, firms raised selling prices to pass on higher costs to their customers.

Higher inflation - largely due to the fall in the pound - has pushed up costs for households and businesses this year, contributing to Britain's lagging economic performance compared with European peers.

There were indications, meanwhile, that suggested the upturn would gather pace in December.

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