Much like the US manufacturing index, the global manufacturing index has hit three year lows. The numbers indicate a contraction in global manufacturing activity, with the JPMorgan Global Manufacturing PMI now below 50% at 48.9% for June 2012 from 50.6% in May. This is the lowest level since May 2009.
The decline in the US was particularly marked and unexpected, with 0 of 70 economists predicting a figure below 50%. Estimates of those 70 economists ranged from 53.5 at the high end to only as ...
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Edward Harrison is the founder of Credit Writedowns and a former career diplomat, investment banker and technology executive with over twenty five years of business experience. He has also been a regular economic and financial commentator in print and on television for the past decade. He speaks six languages and reads another five, skills he uses to provide a more global perspective. Edward holds an MBA in Finance from Columbia University and a BA in Economics from Dartmouth College.