Global manufacturing growth eased in February: PMI

Global manufacturing growth eased in February: PMI

Growth in global manufacturing eased to a modest pace last month, hampered by weaker showings in China, the euro zone and Britain, but supported by stronger growth in the United States, a business survey showed on Friday.

JPMorgan's Global Manufacturing PMI, produced with research and supply management organizations, fell to 50.8 in February from 51.4 in January.

That was the third straight month the index has been above the 50 mark that separates growth from contraction. The survey showed factories took on more workers last month to meet rising new orders.

Earlier data showed the pace of growth in the US manufacturing sector picked up to its fastest rate in over a year and a half in February as new orders continued to accelerate.

But European manufacturing appeared no closer to recovery last month while growth in Asia cooled, pointing to ongoing weakness in global demand. The index combines survey data from countries including the United States, Japan, Germany, France, Britain, China and Russia.

Copyright @ Thomson Reuters 2013

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