The state of global manufacturing
U.S. companies cut back on spending in September, Reuters writes. Factory orders were up overall, but “new orders of non-military capital goods other than aircraft, an indicator of business spending plans, fell 1.3 percent during the month.”
Here’s a look at factory data — or the purchasing managers index (PMI) – from the Americas. The U.S. had its best showing since 2011, per data released last week.
New data out of Europe was more encouraging: New orders for goods were up for the fourth month in a row. ”The euro zone manufacturing economy is undergoing its strongest growth period for two-and-a-half years. However, while the recovery goes on, it is by all measures frustratingly slow,” Chris Williamson, chief economist at Markit said.
Here’s a look at global PMI data: China and other Asian economies posted the best growth in 2.5 years, per Reuters.