Economy
February 5, 2019
Global Manufacturing Nearly Stagnant in January
Written by Sandy Williams
Global manufacturing is approaching the stagnation point, says a new survey by J.P. Morgan and IHS Markit. The J.P. Morgan Global Manufacturing PMI fell for the ninth month in January to register 50.7, its lowest reading since August 2016. Trade tension originating with the U.S. was a common theme throughout the IHS Markit PMI reports in January.
The slowdown in China led the PMI decline along with downturns in the Eurozone and Japan, all falling to multi-year lows. The U.S. defied the slowing trend, gaining 1.1 points in January to register 54.9. Removing U.S. results from the global calculation would place the headline PMI at 50.0.
