Global manufacturing contracted in September at fastest rate since late-2001
Oct 2nd, 2008 | By Finfacts Ireland Business & Finance Portal | Category: News worldwide
The JPMorgan Global Manufacturing PMI in September, was at 44.2, down sharply from 48.6 in August, indicating that manufacturers are currently facing the toughest operating conditions since the immediate aftermath of 9/11. PMIs (Purchasing Managers' Indices) for the US, the Eurozone, Japan and the UK were all down on levels one month ago, hitting their lowest since late-2001 in the US and the euro area, weakest since February 2002 in Japan and a survey record low in the UK. Meanwhile, operating conditions in Spain and the Czech Republic deteriorated to the greatest extents in their respective series histories.