Global manufacturing PMI hit new low in December
Jan 5th, 2009 | By Finfacts Ireland Business & Finance Portal | Category: News worldwide
Global manufacturing ended 2008 on an exceptionally weak footing. December PMI (Purchasing Managers' Index) data pointed to series-record contractions in output, new orders and employment as companies continued to face weak market demand resulting from the worldwide economic downturn and ongoing crises in the financial and credit markets. This was most striking in the US, where production and new work received fell at the fastest rates in the sixty-one year ISM (Institute of Supply Management) survey.