Global Manufacturing Contracts for a Sixth Straight Month

Global manufacturing shrank for a sixth straight month in October as new export orders extended their longest downturn since 2002. At the same time, output and orders firmed in a sign factory activity is stabilizing. The JPMorgan Global Manufacturing Index stood at 49.8 after the prior month’s 49.7 — the third consecutive monthly improvement after bottoming in July. The new orders gauge reached a neutral point after shrinking the previous five months.

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