Asian factory growth stays weak, Europe and U.S. sluggish

Wed Jul 1, 2015 1:02pm EDT
 
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By Jonathan Cable

(Reuters) - Global manufacturing growth slowed last month with most Asian economies remaining weak, while Greece's woes kept euro zone factories in check and U.S. manufacturing turned in a mixed performance, business surveys showed on Wednesday.

JPMorgan's Global Manufacturing Purchasing Managers' Index, produced with private data vendor Markit, slipped to 51.0 in June from 51.3 in May, matching April's near two-year low.

However, June was the 31st month the index has been above the 50 level that separates growth from contraction.

"The growth of manufacturing output remained subdued during the second quarter, with the rates of increase in new business and output slipping to their lowest since the first half of 2013," said David Hensley, a director at JPMorgan.

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

ASIA FACTORY ACTIVITY STILL WEAK

China’s factory activity contracted for the fourth straight month in June but at a slower pace than in May, signaling the slowdown in the world's second-largest economy may be leveling out.   Continued...

 
An employee works at the production line of an automobile factory in Dalian, Liaoning province, October 18, 2014. REUTERS/Stringer/Files