Global factory growth nearly stalled in April: PMI
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Global manufacturing growth almost stalled last month as rising price halted a pick-up in new orders, a survey showed on Tuesday.
JPMorgan’s Global Manufacturing Purchasing Managers’ Index (PMI), produced with Markit, came in at 50.1 last month, only just above the 50 level that separates growth from contraction. It was 50.6 in March.
“The latest PMI data indicate global manufacturing output is growing at an anemic pace, similar to the past year,” said David Hensley, a director at JPMorgan.
New orders barely increased last month as factories raised prices, for the first time since July 2015 . The new orders sub-index sank to 50.4 from 51.4, matching February’s three-year low.
The global PMI combines survey data from countries including the United States, Japan, Germany, France, Britain, China and Russia.
(Reporting by Jonathan Cable, editing by Larry King)
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