It’s the start of the month and the latest batch of manufacturing PMI reports have been released. Some nations have outperformed, others have disappointed.
Let’s see how your nation fared.
In a turn up for the books, compared to recent years, Spain tops the list with a PMI reading of 55.8 while Brazil, a near-perennial underachiever, brings up the rear at 45.9.
Australia recorded the largest improvement in manufacturing activity, registering an increase of 4.3 points, while manufacturing heavyweights Germany, the US and South Korea all saw conditions decline from a month earlier.
While the performance across the globe varied greatly, from a holistic perspective, global manufacturing conditions improved slightly after hitting a 21-month low in April.
The Markit-JP Morgan global PMI gauge rose to 51.2 from 51.0, continuing the expansionary trend established back in December 2012.
In line with the improved headline reading, every subcomponent registered an improvement aside from new export orders.
Commenting on the result, David Hensley, director of global economics at JP Morgan Chase Bank, expects global manufacturing activity will likely accelerate in the months ahead.
“May PMI data signalled mild improvements in both the rates of expansion in global manufacturing production and new orders. Although the trend in international trade flows remains weak and a drag on the sector’s improvement, the bounces in the other indices still put us on course for a mid-year growth acceleration. With this in mind, manufacturers also raised the pace of job creation during the latest survey month.”
Note: Manufacturing PMI surveys globally are not unilateral in nature. Some have many questions, some one. Business Insider’s global comparison is merely an indication on trends in manufacturing activity.