Expansion of global manufacturing production in October was the weakest it has been in 51 months according to the JPMorgan Global Purchasing Manager’s Index. The JPMorgan Global Manufacturing PMI is a composite indicator designed to provide a single-figure snapshot of operating conditions in the global manufacturing sector. In October it fell to 51.9, down from a revised figure of 52.6 in September. This is the lowest level the index has been since May 2005. Reductions U.S. and Japanese production were offset by increased growth in China and India.