LONDON, Oct 1: Global manufacturing growth fell sharply in September as new orders growth cooled dramatically, a global indicator based on national surveys of manufacturers showed on Monday.

The indicator, produced by JP Morgan with research and supply management organisations, fell to 52.3 in September from 53.1 in August, its lowest level in just over two years.

Production growth hit a 22-month low in the euro zone, while it cooled to its lowest since March in the United States.

The global new orders index fell to a 28-month low of 52.5 from 53.9 in August, with the euro zone particularly hard hit.

“Manufacturers appear to be responding to slower demand growth and credit market tightening by curtailing the growth of new orders and inventory,” said David Hensley, director of research at JP Morgan.

—Reuters