Global PMI Holds Steady in January

The JPMorgan Global Manufacturing PMI registered 52.9 in January, almost unchanged from December’s high of 53.0 and signaling the fourteenth straight month of expansion. Production and new orders continued upward which helped increase employment levels. New export business slowed in January. Sharp discrepancies in growth were seen between developed and emerging markets. The UK, Japan and Germany were at the top of the PMI rankings while China, Brazil, Russia, India and Indonesia were near the bottom.

“The global manufacturing sector maintained its solid growth momentum at the start of the year, with production and new orders expanding at rates above their respective averages for the current recovery,” said David Hensley, Director of Global Economics Coordination at JPMorgan. “Manufacturers are also still adding to payrolls, a positive bellwether that they expect the current upturn to run further. Slower inflation of raw material prices will also aid on the cost and profits fronts.”