Global PMI Unchanged at 52.2 in October

Global manufacturing continued to expand for the 23rd successive month according to JP Morgan and Markit. The JP Morgan Global Manufacturing PMI registered 52.2 in October, unchanged from September.

“The global PMI continues to signal 3-4% annualized gains in manufacturing output as we head towards year-end,” said David Hensley, Director of Global Economics Coordination at JP Morgan. “While the new orders data suggest that demand is generally holding up well, this good news is countered to some degree by indications in the survey that finished goods inventory is increasing rapidly.”