LONDON (Reuters) - Global factory activity remained muted in July and with new orders barely accelerating there is unlikely to be much improvement this month, a business survey showed on Monday.
JPMorgan's Global Manufacturing Purchasing Managers' Index (PMI), produced with Markit, held steady at June's 51.0 last month, matching April's near two-year low.
July was the 32nd month the index has been above the 50 mark that separates growth from contraction, although factories were forced to cut prices to encourage trade and ran down old orders for a fourth month.
New order growth also eased last month, with the sub index falling to its second lowest level in two years.
"The lackluster trend in new orders suggests the soft growth patch may continue in the coming months," said Joseph Lupton, senior economist at JPMorgan.
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The global PMI combines survey data from countries including the United States, Japan, Germany, France, Britain, China and Russia.
(Reporting by Jonathan Cable; Editing by Ruth Pitchford)
