VGFO - Global Copper Users Output Index Nears 10-Year Low Prompting Growth Worries
Heavy users of copper saw a solid decline in output in January, boding ill for future demand for the metal in coming months. The Global Copper Users PMI Output Index hit a near ten-year low at the start of 2019, indicating a downturn of the scale not seen since the Financial Crisis.
This gives worrying indications of the health of the manufacturing sector and suggests a marked weakening of demand for copper from manufacturers in the months ahead, as well as providing a potential early warning signal for slower global economic growth.
The IHS Markit