S&P: Global manufacturing PMI falls for 3rd straight month

The Global Manufacturing Purchasing Managers’ Index (PMI) fell to 48.8 in September 2024 from 49.6 in August, signalling a third consecutive month of deteriorating overall operating conditions, according to a new survey on Wednesday.

The PMI index, sponsored by J.P. Morgan and compiled by S&P Global Market Intelligence, witnessed a rate of decline accelerated to the steepest since October 2023, albeit remaining modest.

The deterioration marks a reversal of the manufacturing recovery observed in the first half of the year, which marked the sector’s best performance in two years. The latest PMI data suggests that the contraction is likely to intensify further in the fourth quarter.

Attribution: S&P Global report

Subediting: Y.Yasser