The seasonally adjusted IHS Markit Global Manufacturing Purchasing Managers’ Index slowed to an almost two year low of 52.1 last month, down one tenth from September. Measures of output and new orders both slowed to the weakest pace in more than two years. The future output index slowed to the lowest pace on record in more than six years of record- keeping.

Globally, the data showed a divergence between developed and emerging markets.

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