Stabilising data is still deep in recession in the global economic year

A sharp rise in output and new order indices in addition, the increase in the order inventory ratio indicates that global manufacturing is stabilizing before the middle of this year, a survey published in Monday showed that factory activity in the world's major countries in May was remarkable compared to the previous months, with output shrinking at a pace far less rapid than in a severe recession.　　The global Output Index, compiled jointly by JPMorgan and research and supply regulators, rose to 45.3 in May from 41.8 last month to the highest level in 9 months, but still well below the 50.0 per cent watershed. The data are still deep in the recession. Earlier data showed that the eurozone and the UK's manufacturing Purchasing Managers ' index (PMI) rose to seven-month and one-year highs respectively. The Supply Management Association (ISM) index also hit its highest point since September last year.　　But all this data is still deep in the recession zone.　　Of these major countries, only China's PMI has stayed above 50.0 and has kept up the level for three consecutive months, boosting hopes for signs of a global economic recovery. "Despite the recession, the sharp rise in output and new order indices, combined with higher order inventory ratios, augur well for global manufacturing to stabilise by the middle of this year," he said.　　"Davidhensley of JPMorgan Chase said.　　The new Order index rose from 43.8 in April to 48.6, the highest level in a year.　　But the employment index outlines a bleak picture of global manufacturing employment trends, as the data has shrunk for the 14th consecutive month.　　The index combines data from the United States, Japan, Germany, France, Britain, China and Russia.　　Consumer confidence is stabilising a Tuesday survey showed that global consumer confidence stabilized after a 18-month slump, giving a glimmer of hope to the recession's global economy, while three-fourths of households are cutting spending.　　U.S. consumer confidence rose 2% to 13%, Chinese consumer confidence jumped from 46% to 61%, and India rose 5 points to 70%, according to a joint survey of 23 countries by global market research and research firm IPSOS and Reuters. But at the same time, Brazilian consumer confidence has fallen from 61% to 56% in the past six months.　　Russian consumer confidence dropped from 52% to 35%, and European consumer confidence slipped 9 points to 23%. "This is a matter of confidence in the organization," Young said, referring to the continuing decline in European consumer confidence. In any case, the American people see the Government taking drastic measures, but not in Europe. The survey was conducted during the period from April 14 to May 7, and a total of 23,000 persons were interviewed. Gross domestic product (GDP) in 23 countries accounts for 75% of global GDP.