Global PMI Near a 2.5 Year High

Global manufacturing picked up in October with production, new orders and international trade volumes all improving.  The JP Morgan Global Manufacturing PMI rose to 52.1 in October from 51.8 in September. Expansion was seen all regions of the PMI composite except France, India and Greece which were still in the negative growth range below a reading of 50. Cost inflation was at a 1.5 year high although average selling prices increased only modestly. 

Global manufacturing recently has accelerated, as improved inflows of new business underpin a further solid gain in production levels,” said David Hensley, Director of Global Economics Coordination at JPMorgan. “Growth should be maintained heading to year-end as domestic markets are gaining strength in a number of key industrial nations, while the trend in global trade remains supportive.”