TOKYO -- Business activity increased in 17 sectors, led by Insurance, in Asia this November. Output growth expanded in the insurance sector at the fastest pace in nearly four years.
The Nikkei Asia Sector Purchasing Managers' Index, or PMI, showed that 17 out of the 19 monitored sectors registered expansion in November.
Insurance had the highest rate of growth at 58.2, up from 53.1 in October. Following insurance, commercial and professional services sector recorded the second biggest expansion, at 57.3.
Readings above 50 signal expansion, while those below 50 indicate contraction.
Meanwhile, automobiles and auto parts, as well as metals and mining were the only two sectors with a decline in output. Both registered a decline for the second consecutive month. Growth for metals and mining dropped at the sharpest pace since October 2017, from last month's 47.8 to 45.5.
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