Economy
July 7, 2020
Global Manufacturing Inching its Way from Recession
Written by Sandy Williams
Global manufacturing contraction eased in June as indices rose steeply, marking the second month of upward trajectory. The J.P. Morgan Global Manufacturing PMI rose to 47.8 but remained below the 50.0 neutral mark.
Milder rates of decline for new orders and production were cited as the world recovers from a recession exacerbated by the global pandemic. Output increased for 15 of the 32 nations covered in June’s data, up from just two in May. International trade declined for the 22nd month, resulting in a fifth straight month of contraction for new orders.
