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JPMorgan Global PMI: Global Report on Manufacturing - October 1, 2008

Global Manufacturing Contracted at Fastest Rate Since Late-2001

At 44.2 in September, down sharply from 48.6 in August, the JPMorgan Global Manufacturing PMI* indicated that manufacturers are currently facing the toughest operating conditions since the immediate aftermath of 9/11. PMIs for the US, the Eurozone, Japan and the UK were all down on levels one month ago, hitting their lowest since late-2001 in the US and the euro area, weakest since February 2002 in Japan and a survey record low in the UK. Meanwhile, operating conditions in Spain and the Czech Republic deteriorated to the greatest extents in their respective series histories.

The retrenchment of the manufacturing sector mainly reflected marked deteriorations in the trends for production, new orders and employment. The declines in output and new work received were the second most severe in the survey history, while staffing levels fell at the fastest pace for over six-and-a-half years.

JPMorgan Global PMI: Global Report on Manufacturing - October 1, 2008 - 232KB - (PDF)