Economy
February 3, 2015
Slight Uptick in Global PMI in January
Written by Sandy Williams
Global manufacturing continues to grow steadily with expansion in production and new orders in January. The JP Morgan Global Manufacturing PMI rose slightly last month to 51.7 from 51.5 in December.
“The PMI turned higher in January, including moderate gains in the indexes of output and new orders,” commented David Hensley, Director of Global Economics Coordination at JP Morgan. “At the current level, the output PMI is consistent with production gains of about 3.5% annualized, which is somewhat above the long-term potential. The January PMI featured a big drop in input costs, as the slump in oil prices drove down costs and provided some useful respite for margins across much of the global manufacturing sector.”
