Economy
September 1, 2020
Global Manufacturing Expands for a Second Month
Written by Sandy Williams
The J.P. Morgan Global Manufacturing PMI rose to a 21-month high in August, driven by the restart of production and businesses following COVID-19 shutdowns. The composite PMI rose to 51.8 in August from 50.6 in July, its second month in a row in expansion territory.
Manufacturing output grew for a second month after five months of decline. New orders rose mostly due to domestic demand as international trade continues to be muted. Exports increased from China, the U.S, Eurozone and the U.K.
