Global Manufacturing Robust in November

Global manufacturing accelerated to an 80-month high in November, according to the latest J.P. Morgan Global Manufacturing PMI. Output, new orders and employment were at multi-year highs. Demand led to capacity pressure and a resulting increase in employment. The PMI, produced by J.P. Morgan and IHS Markit in association with ISM and IFPSM, posted 54.0 in November, up from 53.5 in October. The reading was the highest since March 2011 and the 21st consecutive month of expansion.

Commenting on the survey, David Hensley, Director of Global Economic Coordination at J.P. Morgan, said, “The November survey points to a strong increase in the rate of expansion of the global manufacturing sector, with growth of output, new orders, new export business and employment all gaining strength. Inflationary pressures continued to build across the production pipeline.”