The global manufacturing sector deteriorated further in September but edged closer to stabilization. This was signaled by the J.P.Morgan Global Manufacturing PMI, which rose for the second month running to 49.7. Although still below the neutral mark of 50.0 that separates improvement from deterioration, it was the highest reading since May.
Global manufacturing production was broadly stagnant in September, as reduced intakes of new business discouraged any meaningful expansion of output volumes. The trend in international trade flows also remained weak, as new export orders declined for the thirteenth consecutive month. The U.S., China, Germany and Japan were among the many nations to report a decrease in new export business.