Global Manufacturing PMI plummeted to new low in November
Dec 2nd, 2008 | By Finfacts Ireland Business & Finance Portal | Category: News worldwide
The JPMorgan Global Manufacturing PMI (Purchasing Managers' Index) plummeted to a new series-record low of 36.4 in November, a reading indicative of a substantial deterioration in operating performance. The deepening of the global manufacturing downturn was broad based, with almost all of the national manufacturing PMIs for which November data were available falling to series-record lows. The only exceptions were Denmark, where the PMI edged higher from the previous month's low, and the US. The US PMI reading was the weakest since May 1982, making it the lowest during the history of the global manufacturing PMI (which was first compiled in January 1998).