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Global Manufacturing Growth Slows In September To 14 Month Low

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LONDON, Oct 1 (Reuters) - The pace of global manufacturing

growth slipped in September to a 14-month low as the expansion

of order books and exports eased, a survey showed on Friday.

The JPMorgan Global Manufacturing PMI, which measures

activity of factories across the world's major industrial

centres, fell in September to 52.5 from 53.7 in August, although

still above the 50 mark that divides growth from contraction.

While Chinese manufacturing picked up steam, the survey

identified weakening growth in the United States and euro zone.

"The PMI is likely to fall further in coming months,

based on the continued slide in the ratio of new orders to

inventory," said David Hensley of JPMorgan.

"As a result, production is likely to stop growing or even

contract in the next few months on a transitory basis."

The new orders index eased in September to 51.4 from 52.4 in

August, while new export orders rose at the weakest pace since

July 2009.

A survey released earlier on Friday showed U.S.

manufacturing growth slowing in September, marked by slower

expansion of jobs.

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More than a year into the recovereh, TMT are still treating the events of 2007-9 as some sort of cyclical downturn. As long as the mandarins can force the Chinese workers to turn out toxic products manufacturing will increase, but its reaching the stage of pointlessness.

The sooner the powers-that-be stop fighting deleveraging the better. When I lived in the US and Thanksgiving rolled around I would stop eating and drinking at say 4pm and take it easy for the next few days to get back in balance. Central Banks and government would have me imbibe until I exploded.

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