Tags: Global Manufacturing Slows on Weak New-Orders Growth

Global Manufacturing Slows on Weak New-Orders Growth

Wednesday, 01 Sep 2010 01:52 PM

Global manufacturing activity expanded at a slower pace in August than in the previous month, reflecting slower growth of new orders and a waning boost from inventory building, a survey showed on Wednesday.

The Global Manufacturing PMI, compiled by JPMorgan with research and supply organizations, fell in August to 53.8 from 54.3 in June — its lowest since November but marking its fifteenth month above the 50 mark that separates growth from contraction.

"August PMI data suggest that the manufacturing recovery slowed further from the boom rates seen earlier in 2010," said the bank's David Hensley. "While conditions will continue to cool as the year progresses, there looks to be sufficient traction remaining to sustain the recovery."

Manufacturing employment increased for the eighth successive month in August, with the rate of jobs growth accelerating to its fastest since May.

Staffing levels rose at the quickest pace in the U.S., were jobs growth hit its highest since December 1983 and employment also rose in the euro zone, China and the U.K., but fell in Japan.

Earlier survey data showed surging domestic demand helped manufacturing growth in China and Russia pick up speed in August but conversely there was a slowing recovery in European factories.

The Institute for Supply Management's U.S. manufacturing PMI, released earlier on Wednesday, showed activity in U.S. factories grew more quickly than expected in August.

The index combines survey data from countries including the United States, Japan, Germany, France, Britain, China and Russia.

© 2017 Thomson/Reuters. All rights reserved.

 
1Like our page
2Share
Economy
Global manufacturing activity expanded at a slower pace in August than in the previous month, reflecting slower growth of new orders and a waning boost from inventory building, a survey showed on Wednesday. The Global Manufacturing PMI, compiled by JPMorgan with research...
Global Manufacturing Slows on Weak New-Orders Growth
244
2010-52-01
Wednesday, 01 Sep 2010 01:52 PM
Newsmax Inc.
 

Newsmax, Moneynews, Newsmax Health, and Independent. American. are registered trademarks of Newsmax Media, Inc. Newsmax TV, and Newsmax World are trademarks of Newsmax Media, Inc.

NEWSMAX.COM
MONEYNEWS.COM
© Newsmax Media, Inc.
All Rights Reserved