Economic Buzz: Global Manufacturing PMI Index Slides To 20 Month Low

4 May 2022 , 12:47 PM

The JPMorgan Manufacturing Purchasing Managers Index or PMI, compiled by S&P Global, fell from 52.9 in March to a 20-month low of 52.2 in April. The deterioration in the performance of the goods-producing sector was led by a renewed decline in production, which fell for the first time since June 2020, thanks principally by a steeping rate of output loss in mainland China amid fresh lockdown measures. Encouraging, excluding China, global output growth accelerated slightly in April. However, Chinas downturn, combined with disruptions caused by the Ukraine war, also led to a worsening global supply situation, which in turn pushed price pressures higher and led to a further drop in global business expectations for output in the year ahead.

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