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Global all-industry output contracts in June
LONDON, July 3 |
LONDON, July 3 (Reuters) - Global services and manufacturing output contracted in June for the first time in five months, stung too by the fastest decline in global staffing in more than five and a half years, a report showed on Thursday.
The global all-industry index fell to 49.5 in June from 52.1 in May, below the 50.0 mark that divides growth from contraction and it was the first figure indicating shrinkage in five months.
The jobs index fell to 46.8 from 49.3, its worst showing in 5-1/2 years alongside the fastest rises in costs in the survey's 10-year history. The input index spiked to 78.2 from 73.0.
"The global PMI is pointing to the weakest pace of global GDP in five years, although not an outright recession," said David Hensley at JP Morgan in a release.
The figures are produced by JP Morgan and Markit Economics in association with the Institute for Supply Management and the International Federation of Purchasing and Supply Management, which groups together 42 national purchasing associations around the world.
(Editing by Ron Askew)
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