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JP Morgan: global manufacturing activity slumps further in November

The Global Performance of Manufacturing Index’s (PMI) downturn intensified in November, hitting a 29-month low as companies face weaker intakes of new business, slower international trade flows, and continued high costs. 
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The economic forces driving manufacturing’s next cycle

Australia’s manufacturing sector entered 2026 with improving momentum, but renewed global disruption is again testing resilience across the industry.