sharon sanders
Editor-in-Chief & President
Global Dec manufacturing PMI falls to 4-1/2 year low
Wed Jan 2, 2008 11:32am EST
LONDON, Jan 2 (Reuters) - Global manufacturing activity fell sharply in December to a near 4-1/2 year low as the U.S. factory sector contracted, an indicator based on national surveys of manufacturers showed on Wednesday.
The JP Morgan Global Manufacturing PMI slipped to 51.4 in December from 52.2 in November. But while growth slowed, input prices faced by factories rose to a six-month high.
The global input prices index edged up to 67.2 in December from 67.0 the previous month, with inflation the fastest since June in the U.S.
Earlier on Wednesday the U.S. ISM Manufacturing index for December sank to its lowest level since April 2003 at 47.7 from 50.8, sending the dollar lower and U.S. Treasury debt prices up. A reading below 50 indicates contraction in the sector.
"This lacklustre trend is likely to continue into Q1 2008," said David Hensley at JP Morgan.
Still, hiring picked up last month. The Employment index touched 50.9, up on the 50.5 seen in November.
The index combines survey data from countries including the United States, Japan, Germany, France, Britain, China and Russia.
Wed Jan 2, 2008 11:32am EST
LONDON, Jan 2 (Reuters) - Global manufacturing activity fell sharply in December to a near 4-1/2 year low as the U.S. factory sector contracted, an indicator based on national surveys of manufacturers showed on Wednesday.
The JP Morgan Global Manufacturing PMI slipped to 51.4 in December from 52.2 in November. But while growth slowed, input prices faced by factories rose to a six-month high.
The global input prices index edged up to 67.2 in December from 67.0 the previous month, with inflation the fastest since June in the U.S.
Earlier on Wednesday the U.S. ISM Manufacturing index for December sank to its lowest level since April 2003 at 47.7 from 50.8, sending the dollar lower and U.S. Treasury debt prices up. A reading below 50 indicates contraction in the sector.
"This lacklustre trend is likely to continue into Q1 2008," said David Hensley at JP Morgan.
Still, hiring picked up last month. The Employment index touched 50.9, up on the 50.5 seen in November.
The index combines survey data from countries including the United States, Japan, Germany, France, Britain, China and Russia.