none

GLOBAL MANUFACTURING CONTINUES TO IMPROVE

06-03-2015
by 
in 

The Global manufacturing sector has expanded for the past 27 months in a row.

This expansion was driven largely by growth in the US and supported by several European and Asian economies.

The JP Morgan global manufacturing PMI, a composite index produced by JP Morgan and Markit in association with ISM and IFPSM, rose to 52.0 in February, from 51.7 the previous month.

The rate of output growth accelerated to a six-month high, as companies scaled up production to meet rising levels of new work and new export orders, Markit said.

"Global manufacturing production continued its run above its long-run potential, said David Hensley, director of global economics coordination at JP Morgan.

“Employment and new orders both expanded at rates similar to those registered around the turn of the year.

"Price pressures remain on the downside, but to a lesser extent than in January."

The US PMI rose to a four-month high and the neighbouring Mexico also saw solid growth in February.

However, hit by reduced order from the oil and gas sector, the Canadian PMI showed contraction for the first time in almost two years.

The strongest European pockets of expansion were the UK, Ireland, Spain and East European nations such as Poland and the Czech Republic.

Growth was also signalled in Germany, the Netherlands and Italy, while downturns continued in France, Austria and Greece.

In Asia, mild growth was signalled in China, Japan, South Korea, Taiwan, India and Vietnam.

Meanwhile, Brazil, Turkey, Russia, Indonesia and Australia reported deterioration in manufacturing business conditions in February.

Markit said global manufacturing employment rose for the 19th successive month in February, with the rate of jobs growth remaining consistent with those registered since September of last year.

Staffing levels increased in the US, the euro area, the UK, Taiwan, South Korea and Brazil, the survey showed.

Related news & editorials

  1. 12.12.2018
    12.12.2018
    by      In
    There are very few companies in Australia that can point to half a century of experience in electronic control systems, but Plant Control & Automation is one that certainly can.
    The company was founded in Sydney in 1968 by Adrian Smith, a young engineer who immediately set about designing and... Read More
  2. 11.12.2018
    11.12.2018
    by      In
    A-Safe Australasia has capped off a record year with a move to new premises. And while the company’s new base at 177-179 Power Street, Glendenning in Sydney’s west is just a few hundred metres from its old home at 197 Power Street, it provides the company with more than double the office and... Read More
  3. 10.12.2018
    10.12.2018
    by      In
    Aurecon has named Louise Adams as Managing Director for Australia and New Zealand. She was formerly Regional Director responsible for the company’s South Australian and Victorian practice.
    Announcing the appointment, incoming Global Chief Executive Officer, William Cox, said: “Senior female... Read More
  4. 10.12.2018
    10.12.2018
    by      In
    Safety specialist Axelent is expanding its activities in Australia and New Zealand with the addition of Rob Quinn as Business Development Manager with a brief to focus on customer development and growth in the New South Wales and Queensland markets.
    “I am so pleased to welcome Rob Quinn to the... Read More