Global manufacturing is showing clear signs of slowdown, with the PMI dropping to 48.8 in September, marking the third consecutive month of contraction.
Output, new orders, employment, and stocks of purchases all shrank, while new export orders declined at the fastest rate in 11 months.
This could indicate a 3-4% year-over-year decrease in global trade volumes. Business optimism among manufacturers has also fallen to a 22-month low, painting a grim outlook for the months ahead.
