Ever since The Fed began to taper QE, global manufacturing growth (as ascribed by JPMorgan’s global PMI) has been falling almost incessantly.August’s 50.6 print is the weakest ‘expansion’ since June 2013 as output fell to its lowest since April 2013 with New Orders falling.
Un-escape velocity:
Click on picture to enlarge
As for the details, here are the 29 regions that have reported September PMIs: 15 saw improvements in their manufacturing sectors in September, and 14 recorded a weakening.
A reading above 50 reflects expansion, while below 50 indicates contraction.
Charts: Bloomberg
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