It’s not just the U.S. and China that are experiencing record manufacturing activity growth. The entire world is rebounding hard, with JP Morgan’s Global Manufacturing PMI index hitting a 70-month high in March.
Growth of production and new orders regained most of the momentum lost in February, while global trade volumes rose at a survey- record pace. Output growth will remain strong in coming months, as the manufacturing boom enters a new phase in which companies raise output to align the rate of inventory accumulation with the growth of sales.”
In addition to U.S. and China strength, European activity picked up markedly. Meanwhile Japanese activity grew, but at the slowest rate since November.
The UK saw output rise at the steepest rate since July 1994. Production growth in the Eurozone accelerated sharply to its highest since June 2006, led by a survey-record increase in Germany. France, Italy, the Netherlands and Austria all reported faster increases, while Spain and Ireland reported expansions for the first times since last July and November respectively. The recession in Greek manufacturing deepened, with production falling at the steepest pace since April 2009.
(Via JP Morgan, Global Manufacturing PMI, 1 April 2010)
Get more like this: @vincefernando
Business Insider Emails & Alerts
Site highlights each day to your inbox.