Economy
August 3, 2014
Global Manufacturing Growth Holds Steady in July
Written by Sandy Williams
The JP Morgan Global Manufacturing PMI registered 52.5 in July, down just 0.1 point from June and indicating moderating growth. Indices for new orders and output were nearly unchanged from the prior month. The exports index increased at a faster rate, up 0.4 points to 51.5 in July. The employment index decreased by 0.4 points to 50.4.
The flat growth rate for the PMI in June contradicts last month’s commentary by JP Morgan that indicated “the stage is set for robust output gains in the coming months.” It serves as a reminder to look at longer term growth trends rather than month-to-month changes. The chart below shows the PMI has been generally in a positive growth trend since mid 2013.
