Global manufacturing PMI edges down to 52.1 in July amid slower output growth

J.P. Morgan Global Manufacturing PMI: In July, growth in global manufacturing weakened slightly from June, ticking down from 52.2 to 52.1. Output and new orders both improved but at slower paces than the prior month. Meanwhile, lead times lengthened, but the rate of increase eased to a four-month low. Employment rose after a decline in June while inventory levels declined and stocks of purchases grew.

Taiwan, Japan, The Netherlands and Greece had the highest PMI readings in July. On the other hand, Brazil, Turkey and Poland were among the larger nations to register declines in activity. The growth in manufacturing production occurred across consumer, intermediate and investment goods.

Meanwhile, input and output price growth softened to five- and four-month lows, respectively. At the same time, business optimism remained near eight-month lows despite gains in output and new orders. Employment rose as gains in the U.S., mainland China and Japan more than offset cuts across the Euro area.