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Global Manufacturing PMI

J.P.Morgan - IHS Markit

  Last update  
  5 Dec 2017  
  Global manufacturing growth accelerates to 80-month high  

November saw the upturn in the global manufacturing sector strengthen, with rates of expansion in output, new orders and employment all hitting multi-year highs. Price pressures remained elevated, however, with input costs and output charges rising at accelerated and above long-run average rates.

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 54.0 in November, up from 53.5 in October and its highest reading since March 2011. The headline PMI has signalled expansion for 21 consecutive months.

Business conditions improved across the consumer, intermediate and investment goods sectors. The strongest expansion was signalled at intermediate goods producers and the slowest in the consumer goods category.

Growth remained sharper (on average) in developed nations compared to emerging markets. The euro area was a bright spot, with its PMI rising to a near-record high. Rates of increase also strengthened in Japan (44-month high), the UK (51-month high), Australia (8-month high) and Canada (2-month high). Growth slowed slightly in the US, but remained solid overall.

In the main emerging nations, growth eased to a five-month low in China, but accelerated in India (fastest in over a year), Brazil (81-month high) and Russia. Mexico returned to expansion after contracting in October.

Global manufacturing production expanded at the quickest pace since February 2011, supported by a similarly rapid increase in new order intakes. There was also a bounce in international trade flows, as growth of new export business hit a near seven-year high.

Strong demand tested capacity, leading to a further solid increase in employment. The pace of job creation was the steepest in six-and-a-half years, with higher staffing levels registered in almost all of the nations covered by the survey. Notable exceptions were job losses in China, South Korea and Russia.

Price pressures remained elevated in November. The rates of inflation in input costs and output charges were the sharpest registered since May 2011. Both price measures were higher (on average) in developed nations compared to emerging markets.


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


Last update 1 Dec 2017
November PMI signals robust manufacturing growth
   Source: Markit US Manufacturing PMI   -  IHS Markit
United States 

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