There were a few bright spots among the emerging markets in October, especially in Eastern Europe where growth remained strong in both the Czech Republic and Poland. Apart from these two nations, the best performances were seen in India, Vietnam and Russia, which all hovered just above the stagnation mark.  Downturns continued in China, Taiwan, South Korea, Indonesia, Malaysia and Turkey.

Global PMI indices for manufacturing output and new orders both signalled expansion and rose to five- and seven-month highs respectively. Although the trend in global trade flows remained tepid, growth of new export orders recovered slightly following contractions in the prior three months.

Manufacturing employment edged higher in October, with jobs growth the fastest in four months. Among the largest industrial nations, workforce numbers were raised in the US, the Eurozone, Japan and the UK, but lowered in China, France and South Korea.

Price indicators remained on the downside in October, with input costs and output charges both falling at faster rates. Purchase prices decreased sharply in developed markets, but were broadly unchanged in the emerging nations.
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