Global News Of Note: Manufacturing Sector Softens Across The World
What happens abroad impacts MSCI members in North America. Here is the latest economic, trade, and other policy news of note for the last week:
- The J.P. Morgan global manufacturing production managers’ index (PMI) indicated the worldwide manufacturing sector experienced weaker growth to start the second half of 2024. Output expanded at the weakest rate in seven months, reflecting less robust expansions in the United States and China, an ongoing downturn in the euro area, and a return to contraction territory in Japan. Declining new orders also were a major factor underlying the weaker reading. Read the report here.
- The Caixin China PMI echoed J.P. Morgan’s results. That reading, available here, showed operating conditions in China’s manufacturing sector deteriorated at the start of the second half of 2024. A renewed reduction in new work inflows underpinned a marked slowdown in the pace of output growth. As a result, Caixin said firms lowered purchasing activity. Employment conditions did remain relatively stable, however.