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. 16.08.2018
    16.08.2018
    by      In
    Following extensive growth of the business, Beacon Solar (a division of Beacon Lighting Group) has changed its business (trading) name to Beacon Energy Solutions.
    Beacon Solar has been in the energy efficiency/solar market for more than 10 years, with the business initially offering residential... Read More
  2. 15.08.2018
    15.08.2018
    by      In
    BHP’s new $4.8 billion South Flank iron ore mine in the Pilbara is expected to create about 2500 jobs during construction and 600 ongoing roles. But local fabricators are quire rightly up in arms about the company’s decision to award the contract for 20,000 tonnes of structural steel work to... Read More
  3. 14.08.2018
    14.08.2018
    by      In
    The former Trade Commissioner of Denmark to Australia and New Zealand, Michael T Hansen has been named General Manager of Nilfisk in Australia.
    Originally from Denmark, Hansen has more than 25 years of experience in business development and sales.
    Over the last 9 years as Trade Commissioner, Hansen... Read More
  4. 14.08.2018
    14.08.2018
    by      In
    World-renowned physicist Dr Cathy Foley has been named CSIRO Chief Scientist with a brief to help champion science, its impact and contribution to the world. Dr Foley is best known for her work developing superconducting devices and systems that have assisted in unearthing over $6 billion in... Read More