SIJ - Global Factory Output Falls For Second Month In May Amid China Lockdowns

• The JPMorgan Manufacturing Purchasing Managers' Index™ (PMI™), compiled by S&P Global, inched up from 52.3 in April to 52.4 in May, though remained at the second-lowest level recorded over the past 20 months.
• Global trade flows meanwhile deteriorated, with new export orders dropping in May at a rate not seen since July 2020, down for a third straight month.
• Excluding mainland China, global factory output continued to grow in May. The global-excluding-China PMI Output Index reading of 52.7 was in fact only marginally below the pre-pandemic average of 53.0.

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