Global Manufacturing PMI Highest Since November

Global manufacturing began the second half of 2016 on a positive note, according to the JPMorgan Global Manufacturing PMI, compiled by Markit. The rate of growth for manufacturing rose at a faster rate between June and July on all of the indices that make up the composite PMI. At 51.0 in July, the PMI was at its highest level since November 2015.

Commenting on the survey, David Hensley, Director of Global Economic Coordination at JPMorgan, said: “The global manufacturing sector started the second half of the year on a more positive footing. Growth of output and new orders both accelerated in July, a sign that the sector is breaking out of the sluggish trend seen through the opening two quarters. Mild improvements in employment and new export orders following recent declines are also steps in the right direction.”