Global manufacturing PMI ticks up in July

LONDON (Reuters) - Global manufacturing activity rose at a slightly faster pace in July, as factory output hit a four-month high in the United States, according to a business survey on Thursday.

JPMorgan's Global Manufacturing PMI edged up to 50.8 in July from 50.6 in June, holding above the 50 mark that divides growth from contraction.

"Global manufacturing output continues to expand at a modest pace, consistent with a global economy that is held back from considerable fiscal drags in the first half of the year," said Joe Lupton, senior economist at JPMorgan.

The global manufacturing PMI, produced in conjunction with Markit, gauges changes in the activity of thousands of manufacturers worldwide.

(Reporting by Andy Bruce; Editing by Catherine Evans)