Global manufacturing growth eased in February: PMI

LONDON Fri Mar 1, 2013 11:30am EST

Chinese college students majoring in textile work at a garment factory in Jiaxing, Zhejiang province, October 19, 2012. REUTERS/Stringer

Chinese college students majoring in textile work at a garment factory in Jiaxing, Zhejiang province, October 19, 2012.

Credit: Reuters/Stringer

LONDON (Reuters) - Growth in global manufacturing eased to a modest pace last month, hampered by weaker showings in China, the euro zone and Britain, but supported by stronger growth in the United States, a business survey showed on Friday.

JPMorgan's Global Manufacturing PMI, produced with research and supply management organizations, fell to 50.8 in February from 51.4 in January.

That was the third straight month the index has been above the 50 mark that separates growth from contraction.

The survey showed factories took on more workers last month to meet rising new orders.

Earlier data showed the pace of growth in the U.S. manufacturing sector picked up to its fastest rate in over a year and a half in February as new orders continued to accelerate.

But European manufacturing appeared no closer to recovery last month while growth in Asia cooled, pointing to ongoing weakness in global demand.

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

(Reporting by Jonathan Cable; Editing by Toby Chopra)

Recommended Newsletters

Reuters U.S. Top News
A quick-fix on the day's news published with Reuters videos and award-winning news photography and delivered at your choice of one of four times during the day.
Reuters Deals Today
The latest Reuters articles on M&A, IPOs, private equity, hedge funds and regulatory updates delivered to your inbox each day.
Reuters Technology Report
Your daily briefing on the latest tech developments from around the world from Reuters expert tech correspondents.