Investing.com - Financial Markets Worldwide

Most G20 Countries In Contraction Territory In July

ByThe National Bank of Canada
Published 08/02/2012, 05:44 AM
Updated 05/14/2017, 06:45 AM

The US ISM manufacturing index came out below expectation inching up to 49.8 (from 49.7) with the second sub-50 print for new orders (48.0) suggesting no quick rebound. The struggling manufacturing sector is currently a global widespread phenomenon as shown by Markit PMI manufacturing data released today for several countries. As today’s Hot Chart shows, 11 of the 17 in the G20 countries (three do not have PMI’s) are currently showing a contraction in manufacturing. Taken as a whole those 11 economies represent no less than 58% of the world economy based on IMF estimates. Moreover, among those 17 countries, 11 are showing a deterioration from June’s print. As a result, the JPM Global Manufacturing PMI slid further into contraction in July at 48.4, its lowest level since June 2009. CPB data is showing a stagnant global industrial production in Q2, its worst performance since the last recession. The latest data indicates that the weakness of the world economy is extending into the third quarter.
countries in contraction territory in July

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