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Global Manufacturing PMI

J.P.Morgan - IHS Markit

  Last update  
  3 Sep 2017  
  Global Manufacturing PMI at 75-month high in August  

August saw a further acceleration in the rate of expansion of the global manufacturing sector. The J.P.Morgan Global Manufacturing PMI™ – a composite index produced by J.P. Morgan and IHS Markit in association with ISM and IFPSM – rose to a 75-month high of 53.1, up from 52.7 in July, and has now remained above the neutral 50.0 mark throughout the past one-and-a-half years.

Please note that, due to later than usual release dates, August data for Turkey, Indonesia, Malaysia and the Philippines were not available for inclusion in the Global Manufacturing PMI numbers.

Growth was evenly distributed across the consumer, intermediate and investment goods sectors during August, with similar PMI readings registered for each of these categories. Moreover, rates of improvement picked up in all three cases.

Developed nations outperformed (on average) emerging markets again in August. The euro area Manufacturing PMI matched June’s six-year record, while growth in the UK was among the best seen since mid-2014. Expansions were also registered in the US, Japan and Canada.

Growth across the emerging markets also accelerated during August. PMI readings hit six-and four-month highs in China and Taiwan respectively, and moved back into expansion territory in both Brazil and India. Growth slowed slightly in Russia, whereas contractions were seen in Thailand and Myanmar.

Global manufacturing production rose at the fastest pace in four months, underpinned by the steepest upturn in new work since March. International trade flows also strengthened, as new export business rose at the fastest pace in almost six-and-a-half years.

The upswing in new order intakes exerted pressure on capacity, leading to rising backlogs of work and improved jobs growth. Employment increased at the quickest pace since June 2011, as staffing levels rose in almost all of the nations covered by the August survey. Notable exceptions were job losses in China, Russia, Brazil and Thailand.

Price pressures strengthened slightly during August. Cost inflation rose to a four-month high, while output charges increased at the quickest pace since March. Part of the gain in input prices reflected growing supply-side constraints, as highlighted by the sharpest lengthening in average vendor lead times for over six years.


  Country/Area Index Source Link  
  Global J.P.Morgan Global Manufacturing PMI IHS Markit  



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