Economy
September 7, 2016
Global Manufacturing Sluggish In August
Written by Sandy Williams
Global manufacturing continued to grow in August although falling from an eight-month high of 51.0 in July to 50.8 in August. Growth was sluggish in developed markets but improved in emerging markets. Of the 28 countries surveyed in the JP Morgan Global PMI, only nine reported worsening conditions in August. Manufacturers in China reported no change. North America and Europe drove most of the expansion in August while Asian manufacturing was mostly flat. The UK rebounded in August after sharp declines in July attributed to the vote to exit the European Union.
Global output rose at the fastest pace since November 2015 and was consistent with a 2.5 percent annual rise in factory production, reported Markit. Order books grew a little slower in August but exports showed a modest gain.
