Global manufacturing expansion decelerated in May, as indicated by the JPMorgan Global Manufacturing PMI, compiled by Markit. The index fell to 50.7, a significant drop from April’s 52.1, signaling a near standstill in the sector’s growth.

The PMI, a composite indicator of manufacturing performance, revealed softer increases in both output and new orders. This suggests a weakening in demand and production levels across the global manufacturing landscape.

Employment growth within the sector remained marginal, reflecting the cautious approach of manufacturers in response to the slower pace of expansion. This subdued hiring activity further underscores the concerns about the strength of the global manufacturing recovery.

Key findings of the report include:

• The Global Manufacturing PMI registered 50.7 in May, down from 52.1 in April.
• Output and new orders experienced weaker growth rates.
• Employment growth remained marginal.

The slowdown in global manufacturing growth raises concerns about the overall health of the global economy. The weaker performance in key indicators such as output and new orders suggests that the recovery from the recent economic downturn may be losing momentum.