Euro zone factory downturn eased in November
China39;s private PMI unexpectedly expands in November
Manufacturing activity slumps in Japan, steadies in S. Korea
Soft global demand clouds outlook for Asia39;s fragile recovery

LONDONTOKYO, Dec 1 Reuters Global manufacturing activity remained weak in November on soft demand, surveys showed on Friday, as euro zone factory activity kept contracting, while there were mixed signs on the strength of China39;s economy.

To rein in steep inflation, central banks have aggressively raised interest rates but those hikes have largely come to an end as policymakers look instead to cushioning the blow on their economies.

In the 20member euro zone, Hamburg Commercial Bank39;s final manufacturing Purchasing Managers39; Index PMI, compiled by SP Global, was firmly below the 50 mark dividing contraction from expansion in a broadbased downturn.

Still, it did rise to 44.2 in November from October39;s 43.1, above a 43.8 preliminary estimate. An index measuring output, which feeds into a composite PMI due on Tuesday seen as a barometer of economic health, climbed to 44.6 from 43.1.

It39;s not great but we have seen an upward revision which is a good sign it is a harbinger of less bad times to come. For the euro zone the worst will be over early next year, said Holger Schmieding at Berenberg.

But while subindices perked up a bit last month, HCOB cautioned that the uptick was timid and that it was too early to call it an upward trend….