"Global Manufacturing Sector Contracts in June
The JPMorgan Global Manufacturing PMI™ — a composite index produced by JPMorgan and Markit in association with ISM and IFPSM — fell to three-year low of 48.9 in June, a reading below the neutral 50.0 mark for the first time since November 2011.
Manufacturing production declined for only the second time in the past three years. Although the rate of contraction was only moderate, it was nonetheless the fastest since May 2009. Growth slowed sharply in the US to its weakest in the current 37-month sequence of expansion. Rates of decline gathered pace in China, Brazil and Vietnam, while Japan, South Korea and Taiwan all fell back into contraction.
The Eurozone remained the main source of weakness for the global manufacturing sector. Production in the euro area contracted at a similarly sharp rate to May – which was the steepest drop in almost three years – with declines recorded in Germany, France, Italy, Spain and Greece...." (continue reading)
Monday, July 2, 2012
JPMorgan Global Manufacturing PMI Falls to 3-Year Low in June
The chart says a thousand words. Read the full release here.
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