The slump in manufacturing has spread far from Australia according to the PMI index which measures industry confidence and production. China, Canada, Britain, the US and Japan have all recorded downward figures for April 2015.
China hit a new low (48.9), their weakest in 12 months. It has been influenced by low domestic demand for goods. They are showing a decline in employment opportunities too. The US fell several points to 54.1…Britain lost more than 2 points to 51.9…Japan went from 50.3 to 49.9 and Canada was minus 50 for the 3rd month in a row.
Anything below 50 shows contraction in the market.
Source: Manufacturers Monthly