Commodities extended their decline, touching the lowest level inalmost eight months, after U.S. employers created fewer jobs thaneconomists estimated and Chinese manufacturing slowed.

The Standard & Poor's GSCI Spot Index fell 2.1 percent to583.53 at 10:27 a.m. in New York, after touching 578.35, the lowestlevel since Oct. 4. The index has dropped 6 percent this week,heading for a fifth straight decline and the biggest sinceSeptember. Oil, natural gas and gasoline led the losses.

U.S. payrolls climbed by 69,000 last month, less than the mostpessimistic forecast in a Bloomberg News survey, Labor Departmentfigures showed today in Washington. China's Purchasing Managers'Index fell to 50.4 in May from 53.3 in April, China's statisticsbureau and logistics federation said today in Beijing. Euro areaand U.K. manufacturing contracted.

Complete your profile to continue reading and get FREE access to Treasury & Risk, part of your ALM digital membership.

  • Critical Treasury & Risk information including in-depth analysis of treasury and finance best practices, case studies with corporate innovators, informative newsletters, educational webcasts and videos, and resources from industry leaders.
  • Exclusive discounts on ALM and Treasury & Risk events.
  • Access to other award-winning ALM websites including PropertyCasualty360.com and Law.com.
NOT FOR REPRINT

© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.