Asia's manufacturing rebounds in November with strongest growth in over 3 years

China and India led this surge as manufacturers ramped up production to meet stronger orders.

Asia’s manufacturing sector saw a robust rebound in November 2024, with procurement activity rising at the fastest rate in three and a half years, S&P Global said.

According to the GEP Global Supply Chain Volatility Index, China and India led this surge as manufacturers ramped up production to meet stronger orders, driven by domestic stimulus measures and growing export demand.

China’s focus was on automotive and technology products, whilst India recorded the highest increase in raw material purchases across the region.

It noted that supply chain capacity in Asia reflected this momentum, with the region's index rising to 0.15, indicating stretched capacity for the first time since mid-2024.

S&P Global attributes this growth to surging orders and proactive stockpiling by companies preparing for potential tariff changes under the Trump administration.

These measures, S&P Global noted, reflect manufacturers’ strategic adjustments to shifting trade policies.

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