Wednesday, December 19, 2012

Global Manufacturing Contracts for 6th Consecutive Month, Worldwide Job Losses Continue

♦ ♦ ♦


JPMorgan & Markit Global Indexes

JPMorgan Global Manufacturing PMI by Month



David Hensley, Director of Global Economics Coordination at JPMorgan, said: "Global manufacturing appears to be lifting into year’s end. Survey indexes of output, new orders and employment continue to improve, albeit from low levels, while the rate of finished goods inventory accumulation is indicated to be quite low. This pattern typically heralds faster output gains."

Worldwide Jobs Losses Continue "November saw global manufacturing employment reduced for the fifth consecutive month. However, the rate of loss has remained only marginal throughout this sequence. The main centre of job creation was North America, with modest increases recorded in the US, Canada and Mexico. Payroll numbers were reduced in China, Japan, South Korea and (on average) across the European Union."

♦ ♦ ♦

Seeking Alpha