At 51.4 in December, the JPMorgan Global Manufacturing PMI fell to its lowest level for almost four-and-a-half years and signaled only a slight improvement in the overall health of the sector. The PMI was dragged lower by a worsening in US manufacturing conditions, as the US PMI posted its lowest reading since April 2003 and fell below the 50.0 no-change mark for the first time in eleven months. Conditions strengthened slightly in the Asia-Pacific region, and steadied in the Eurozone, whereas the UK Manufacturing PMI lost the momentum it regained in November.
Rates of expansion in world manufacturing production and new orders both eased in December. The Global Manufacturing Output Index, which posted 52.2, and the Global Manufacturing New Orders Index, at 51.4, dropped to four-and-a-half year lows.