Global manufacturing sector contracted for the first time in five years in June as companies faced weaker demand and survey record cost increases
Jul 2nd, 2008 | By Finfacts Ireland Business & Finance Portal | Category: News worldwide
At 49.5 in June, the JPMorgan Global Manufacturing PMI fell below the no-change mark of 50.0 for the first time in five years. The main factors underlying the decline in the PMI (Purchasing Manager' Index) were weaker operating conditions in the European and Japanese manufacturing economies. In contrast, PMIs for China and India remained at expansionary levels, and for the US posted above th neutral mark for the first time since January.