Global business conditions worsened in the manufacturing sector in September, with the JPMorgan Global Manufacturing Purchasing Managers' Index™ (PMI™), compiled by S&P Global, dropping below the neutral level of 50.0 for the first time since June 2020. The headline index dropped from 50.3 in August to 49.8 in September. The survey's sub-indices, explored further in this paper, point to the production trend deteriorating in the coming months amid an intensifying downturn in global trade flows, subdued demand linked to the ongoing cost-of-living crisis and growing economic uncertainty about the outlook. One ... (full story)