Global PMI at 21 Month Low

Global manufacturing was subdued in August said J.P. Morgan and IHS Markit. The J.P. Morgan Global Manufacturing PMI was at a 21 month low of 52.5 in August, down 0.3 points from July.

“August PMI data signaled a slight firming in global manufacturing output growth to a solid pace at near three percent annualized,” said David Hensley, Director of Global Economic Coordination at J.P. Morgan. “The survey suggests that the recent inventory drag has reached an end. However, we were disappointed to see the further decline in the new orders PMI.”