Global manufacturing activity shrank in November. The global manufacturing PMI fell to 49.6 in November from 49.9 in October.
In the euro area, the manufacturing PMI fell to 46.4 in November, the lowest level since July 2009, from 47.1 in October.
The UK manufacturing PMI fell to 47.6 in November, the lowest level since June 2009, from 47.8 in October.
Even China's manufacturing sector is signaling contaction. The China Federation of Logistics and Purchasing manufacturing PMI fell to 49.0 in November from 50.4 in October. The final HSBC China manufacturing PMI for November came in at 47.7, the lowest level since March 2009.
US manufacturing was the outperformer. The ISM manufacturing PMI actually increased to 52.7 in November from 50.8 in October.
In another positive sign for the US economy, construction spending climbed 0.8 percent in October.