Canada manufacturing growth pace little changed in November

PMI rises to 13-month high of 52.6 in November

The headline PMI reading was 58.1, up from October's 54.4, and its highest level since December 1999, as Irish manufacturers continue to defy Brexit concerns about the economy.

"Economic growth in 2017 is expected to be higher than past year, but it may come under downward pressure in 2018".

Overall, the survey added to signs that manufacturing could be a bright spot next year, when the slowdown in the overall economy is likely to deepen as Britain approaches its departure from the European Union in March 2019.

The increase in growth has resulted in a further rise in the backlogs of work, with November's increase the fastest in the current seven month sequence of growth.

"A major driver of higher output has been solid domestic demand", said Bernard Aw, principal economist at IHS Markit, which compiles the survey.

While Friday's PMI will make welcome reading for policymakers, Britain's economy relies far more on the services sector, which is almost eight times larger than manufacturing.

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A PMI survey of the services sector is due to be published on Tuesday.

Last week, Britain's official budget forecasters slashed their forecasts for economic growth in the coming years as they turned more pessimistic about the outlook for productivity, the Achilles heel of Britain's economy. Improved production processes and sub-contracting also contributed.

Growth in China's manufacturing sector continued in November albeit at a slower pace than in the previous month with only modest increases in output.

November's figure was the highest in 51 months, and came significantly above the expectations of analysts polled by The Wall Street Journal, who forecast only a moderate acceleration and and a reading of 56.7.

The pound's weakness against the euro helped to drive a rush of new orders, which grew at the steepest rate since August 1994, boosting output and employment rates.

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

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