Global Manufacturing PMI sank to record low in October
Nov 4th, 2008 | By Finfacts Ireland Business & Finance Portal | Category: News worldwide
The world manufacturing sector suffered its sharpest contraction in survey history during October, as the ongoing retrenchment of global demand and further deepening of the credit market crisis negatively impacted on the trends in output, new orders and employment. The JPMorgan Global Manufacturing PMI (Purchasing Managers' Index) posted 41.0, its lowest reading since data were first compiled in January 1998 and a level below the no-change mark of 50.0 for the fifth month in a row.