Saudi Arabia's non-oil businesses recorded an increased activity in November. This came after the sector struggled in September to October. Compared to the previous month's PMI record of 53.2, the sector gained momentum as it recorded 55.0 in November.
The Caixin/Markit PMI revealed a slight drop on China's manufacturing sector for November, with a 50.9 index compared to October's 51.2.
The world's second largest economy showed positive signs as resurgent sales in the real estate sector boosted growth during March. However, China recorded drop in exports and freight segments.
The capital outflows from the world's second-largest economy registered record level in November. The capital outflow grew almost three times in November from October.
The ongoing recession in Greek economy after long-lasting uncertainty is projected to end in 2016 and may witness real growth in 2017, according to European Commission (EC). The unsuccessful conclusion of second adjustment program of bailout package continued and worsened the economic recession in the ailing Greece economy further weakened the recovery prospects in the first half of 2015.
Oil prices dropped on low volumes as investors preferred to book profit to take advantage of overnight rally. The oil price is hovering above $50 a barrel on disruption in production in Brazil and Libya.
Japan's Purchasing Managers Index (PMI) has reached it's strongest in a year, with a seasonally adjusted reading of 52.4 for the month of October, as conducted by a business survey from Nikkei last Monday.
Indicating the prolonged sluggishness in the economy, China's factory activity dropped further again in October. However, the marginal recovery in export orders has slowed down the drop in the manufacturing production. The PMI edged up in the previous month.
The Chinese manufacturing sector registered its worst performance in the past 78 months. The measure of sentiment among purchasing managers, Preliminary Caixin China manufacturing index (PMI) dropped to 47 in September from 47.3 in August.
Chinese stocks recovered from sharp losses after a roller-coaster ride Wednesday. The benchmark Shanghai Composite Index had dropped 4%, before settling at 3,160.17, 0.2% down from the previous close.
The US services sector's growth slowed down in early August but surpassed the forecast. According to the financial firm Markit Economics, the flash US Services Purchasing Managers' Index (PMI) recorded 55.2 points in August from 55.7 points in July.
Euro zone leaders will attend an emergency summit on Monday, hoping to thrash out a plan with Athens to provide Greece with additional funds to prevent it defaulting on its debt -- but only if both sides play ball.
European shares rose on Monday, helped by an almost five percent rally in Chinese stock markets and rumours of progress in Greece's debt talks that halted sales of the euro.
China's factories struggled to expand in May despite recent interest rate cuts and other policy stimulus, a Reuters poll showed, suggesting the government may have to do more to halt a protracted slowdown in the economy.
World shares hovered near record highs on Thursday after downbeat Chinese manufacturing data kept pressure on Beijing for more stimulus and the Federal Reserve signalled higher U.S. interest rates are still some way off.
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