Global manufacturing growth slows but still strong

LONDON, June 1 (BestGrowthStock) – Global manufacturing expanded at
a slower pace last month than in April but still grew at its
second-fastest rate during the past six years, a survey showed
on Tuesday.
The Global Manufacturing PMI, produced by JPMorgan with
research and supply management organisations, fell to 57.2 in
May from 57.8 in April, marking the 11th month above the 50 mark
that divides contraction from growth.

“The latest PMI data suggest that the global manufacturing
sector maintained both its solid growth momentum and broad base
in May,” said David Hensley at JPMorgan.

“However, rates of expansion in output and new orders eased
from their April highs, suggesting that this initial recovery
phase may have already passed its peak.”
The global output index fell to 59.5 from 60.9 in April
while the new orders index dropped to 59.2 from April’s six-year
high of 60.3.

However, global manufacturing employment increased for the
fifth successive month in May, with jobs added at the fastest
pace in six years. JPMorgan said the sharpest growth in staffing
levels was recorded in the United States.

Earlier data showed China’s PMI fell last month, as did
those in the euro zone, the U.S. and some other Asian nations.
However, the UK managed to buck the trend with its index holding
at April’s 15-year high.

The index combines survey data from countries including the
United States, Japan, Germany, France, Britain, China and
Russia.

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(For a table see [ID:nWLA5376])
(Reporting by Jonathan Cable; editing by Stephen Nisbet)

Global manufacturing growth slows but still strong