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Global manufacturing PMI nears record in February

Global manufacturing PMI nears record in February (by Steve Goldstein)

WASHINGTON (MarketWatch) -- The J.P. Morgan global manufacturing PMI edged up to 57.8 from 57.1 in January, marking the second-fastest reading ever in the global gauge, which is based on other surveys covering over 7,500 purchasing managers in nearly 30 countries. Output and new order components accelerated, and the input price gauge rose to 76.7 from 73.3 in January. Any reading over 50 indicates expansion. The U.S. ISM represents 28.6% of the gauge, followed by Japan at 12.3%, China at 7.4%, Germany at 5% and the U.K. at 4.2%.

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Global manufacturing PMI nears record in February