Economy
November 5, 2019
Global Manufacturing Expands After Bottoming in July
Written by Sandy Williams
The global manufacturing downturn showed some signs of easing in October. The J.P. Morgan Global Manufacturing PMI posted 49.8, still in contraction but rising for the third consecutive month.
The intermediate goods sector fell to a three-month low of 48.8, but PMIs for consumer and investor goods saw expansion in October. The Eurozone remained in contraction for the most part, with Germany posting the lowest PMI of the 32 countries covered in October. Global manufacturing production was higher for the second month in a row as orders for new work stabilized after five months of contraction.
