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Global Manufacturing PMI

J.P.Morgan - IHS Markit



  Last update  
  3 Nov 2017  
   Global  
  Global Manufacturing PMI at 78-month high in October  
 
Abstract

The upturn in the global manufacturing sector gathered pace in October. This was signalled by the J.P.Morgan Global Manufacturing PMI™ – a composite index produced by J.P.Morgan and IHS Markit in association with ISM and IFPSM – rising to a six-and-a-half year high of 53.5, up from September’s 53.3.

Business conditions improved across the consumer, intermediate and investment goods sectors. The steepest rate of expansion was signalled in the latter, with growth picking up to the highest since March 2011. An acceleration was also registered at intermediate goods producers (78-month high), whereas a deceleration was seen in the consumer goods category (four-month low).

Developed nations continued to record (on average) stronger rates of improvement than emerging markets at the start of the final quarter. The euro area PMI rose to an 80-month high, led by a solid performing core of Germany, the Netherlands and Austria.

US manufacturing business conditions improved at the quickest pace since January, while accelerations were also signalled for the UK, Italy, Spain and Australia. Among the larger emerging markets, the China PMI held steady at 51.0, expansions slowed in India and Russia, while a mild growth uptick was signalled in Brazil. The Mexico PMI signalled contraction.

October saw the rate of expansion in global manufacturing production remain close to September’s six-month high. Underpinning the latest rise was slightly stronger growth of new work intakes, including a solid increase in new export orders. The continued strength of demand also tested capacity. Backlogs of work rose to the greatest extent forover six-and-a-half years.

Global manufacturing employment increased for the fourteenth successive month in October. Moreover, the rate of jobs growth accelerated to a 77-month high. Staffing levels rose in most of the nations covered, the exceptions being China, South Korea, Mexico, Indonesia, Malaysia, Myanmar and Thailand.

Price pressures continued to build, with the rate of input cost inflation rising to a nine-month high. Part of the increase in purchase prices reflected supply-chain constraints, as reflected in a further marked lengthening of average vendor lead times (the sharpest since May 2011). Output charges also increased at a solid clip.

 

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

 





Last update 2 Nov 2017
New order growth remains sharp in October
   Source: Investec Manufacturing PMI Ireland  -  IHS Markit
Ireland 

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