Global factory growth eases on weak Asia, Europe: PMI

Reuters
A worker welds in a factory in Gravellona Lomellina, 45km (27 miles) southwest of Milan, June 11, 2013. REUTERS/Stefano Rellandini

LONDON (Reuters) - Global manufacturing growth slowed last month as most Asian economies remained weak while Greek debt talks that dominated debate in Europe kept the euro zone in check, a business survey showed on Wednesday.

JPMorgan's Global Manufacturing Purchasing Managers' Index (PMI), produced with Markit, nudged down to 51.0 in June, matching April's near two-year low. It was 51.3 in May.

However, June was the 31st month the index has been above the 50 level that separates growth from contraction, although some of that activity was again driven by running down old orders.

"The growth of manufacturing output remained subdued during the second quarter, with the rates of increase in new business and output slipping to their lowest since the first half of 2013," said David Hensley, a director at JPMorgan.

The global PMI combines survey data from countries including the United States, Japan, Germany, France, Britain, China and Russia.

(Reporting by Jonathan Cable; Editing by Mark Heinrich)