The rate of expansion in the global manufacturing sector eased to a six-month low in May. This was signaled by the J.P.Morgan Global Manufacturing PMI posting 52.6, down slightly from 52.7 in April, but still above the long-run series average of 51.4.
Developed nations again tended to outperform emerging markets in May. Growth across emerging nations slowed to a pace only marginally above the stagnation mark. The Developed Markets PMI continued to signal solid and steady expansion.
Among the largest nations covered by the survey, the U.S. PMI slipped to an eight-month low and the China PMI dipped below the critical 50.0 no-change mark for the first time in 11 months. The UK PMI remained close to April’s three-year high. Rates of improvement strengthened in the euro area (six-year high) and Japan (three-month high).