Global manufacturing PMI slides in May (by Steve Goldstein)

WASHINGTON (MarketWatch) -- The J.P. Morgan global manufacturing PMI -- a weighted average of the ISM and similar manufacturing indexes from across the globe -- fell for the third straight month, slipping to 52.9 in May from 55.0 in April. Any reading above 50 indicates growth. It's the lowest level since Sept. 2010, and comes as the U.S. hit a 20-month low, the euro zone reached a seven-month low, China reached the worst level since July 2010, the U.K. reached a 20-month low and India hit a four-month low. Japan's PMI rose sharply following the earthquake-affected readings of March and April.