Global factory growth at two-year low – PMI

 Global factory activity expanded at its weakest pace in just over two years last month, even though discounted prices did drive a modest upturn in new orders, a business survey showed on Tuesday.

JPMorgan’s Global Manufacturing Purchasing Managers’ Index (PMI), produced with Markit, sank to its lowest reading since July 2013 last month, coming in at 50.7 compared to July’s 51.0.

August was the 33rd month the index has been above the 50 level that separates growth from contraction. But a sub-index measuring prices charged held below 50, registering 49.7, only slightly above July’s 49.5.

“The August PMI surveys suggest that conditions in the global manufacturing sector remain relatively lackluster, with growth staying stubbornly below its long-run trend,” said David Hensley, a director at JPMorgan.

http://www.reuters.com/article/2015/09/01/us-global-economy-pmi-idUSKCN0R144Y20150901

Gold prices up in Asia as China PMI flash survey shows dim picture

 Gold gained in Asia on Friday after a weaker than expected manufacturing flash survey from Caixin and as investors increasingly doubt the Federal Reserve will raise rates in September.

The Caixin China Manufacturing PMI flash fell to 47.1, a 77-month low, from an expected 47.7 for August. The Nikkei Japan PMI Manufacturing survey eased to 51.9 in August fro the flash estimate, below the 52.1 level seen.

On the Comex division of the New York Mercantile Exchange, gold for December delivery rose 0.44% to $1,158.30 a troy ounce.

Silver for September delivery eased 0.11% to 15.500 a troy ounce, while copper for September delivery dropped 0.27% to $2,314 a pound.

http://www.investing.com/news/commodities-news/gold-prices-up-in-asia-as-china-pmi-flash-survey-shows-dim-picture-356987