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Global Manufacturing PMI

J.P.Morgan - IHS Markit

  Last update  
  3 Oct 2017  
  Global manufacturing growth remains solid in September  

The global manufacturing economy continued to expand at a solid and steady pace during September. The J.P.Morgan Global Manufacturing PMI™ – a composite index produced by J.P.Morgan and IHS Markit in association with ISM and IFPSM – posted 53.2, unchanged from August’s 75-month high.

Please note that, due to a later than usual release date, September data for India were not available for inclusion in the Global Manufacturing PMI numbers.

PMI readings for the worldwide consumer, intermediate and investment goods sectors signalled further expansion in September. Rates of improvement remained broadly similar across all three. Growth accelerated at intermediate goods producers, but slowed in the consumer and investment goods categories.

National PMI indices signalled expansion in almost all of the nations covered by the survey. Among the largest industrial regions covered by the survey, growth accelerated in the eurozone (79-month high), the US and Japan (four-month high), but slowed slightly in China, the UK and Taiwan. The South Korea PMI moved back into expansion territory. The upturn in the euro area was again led by Germany, the Netherlands and Austria.

Manufacturing production rose at the quickest pace in six months, underpinned by further increases in both total new orders and international trade volumes. The continued upturn in new order inflows exerted further pressure on capacity, leading to one of the steepest increases in backlogs of work over the past three-and-a-half years. This in turn encouraged manufacturers to raise employment to the greatest extent since May 2011.

Staffing levels were increased in almost all of the nations covered by the survey. Notable exceptions were job losses in China, South Korea and Brazil. The rate of increase accelerated to a nine-month high in the US, series-record high in the euro area, but slowed to a ten-month low in Japan.

Price pressures intensified in September. Input cost inflation rose sharply to a seven-month high, a key factor underlying the steepest increase in selling prices since May 2011. Companies linked higher purchasing costs to rising commodity prices and increased supply-chain pressures (reflected in a steep lengthening of average vendor lead times).


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


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