Wednesday, 3 January 2007

Manufacturing slowdown spreads

Japan kicked off the reporting on purchasing managers' indices last week. From Reuters:

The NTC Research/Nomura/JMMA Purchasing Managers Index, which gives an early snapshot of the health of manufacturing, slipped to a seasonally adjusted 53.1 to indicate the weakest rate of growth since March 2005. It was 53.7 last month.

Yesterday, we had more reports. AFX/Forbes reports the eurozone PMI.

The euro zone's manufacturing sector saw output grow at its slowest rate in nine months during December, sources said of a key survey.

The purchasing managers' index for the euro zone manufacturing sector slipped to 56.5 in December from an unrevised 56.6 in November, they said.

UK manufacturing slowed as well, the CIPS/RBS Purchasing Managers' Index falling to 51.9 in December, its lowest reading since March.

Even China saw manufacturing slow. AFX/Forbes reports that CLSA's purchasing manager's index for China fell back to 52.4 in December from a four-month high of 53.0 in November.

And in India, the purchasing managers' index compiled by NTC research and sponsored by ABN AMRO Bank fell to 56.6 in December, the slowest pace in five months, from 58.9 in November.

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