Global operating conditions stabilized in July, following a sustained period of weakness, according to the JPMorgan Global Manufacturing PMI, which stood at 50.0. PMIs remained above 50.0 in China, India and Turkey and rose back above this level in Japan and the UK for the first time in 17 and 16 months respectively.
The Global Manufacturing Output Index rose to an 18-month high in July. At a twenty-month high of 53.3, the Global Manufacturing New Orders Index pointed to an increase in new work received for the first time since March 2008. International trade volumes rose slightly in July, following ten months of sustained decline. “Global manufacturing started Q3 2009 on a strong footing,” said David Hensley, director of Global Economics Coordination at JPMorgan. “The PMI indicates …
