October 1, 2010 / 3:45 PM / 9 years ago

Global manufacturing growth slows in September

 LONDON, Oct 1 (Reuters) - The pace of global manufacturing
growth slipped in September to a 14-month low as the expansion
of order books and exports eased, a survey showed on Friday.
 The JPMorgan Global Manufacturing PMI, which measures
activity of factories across the world's major industrial
centres, fell in September to 52.5 from 53.7 in August, although
still above the 50 mark that divides growth from contraction.
 While Chinese manufacturing picked up steam, the survey
identified weakening growth in the United States and euro zone.
 "The PMI is likely to fall further in coming months,
based on the continued slide in the ratio of new orders to
inventory," said David Hensley of JPMorgan.
 "As a result, production is likely to stop growing or even
contract in the next few months on a transitory basis."
 The new orders index eased in September to 51.4 from 52.4 in
August, while new export orders rose at the weakest pace since
July 2009.
 A survey released earlier on Friday showed U.S.
manufacturing growth slowing in September, marked by slower
expansion of jobs.
 (Reporting by Andy Bruce, Editing by Toby Chopra)


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