Economy
October 2, 2020
Global Manufacturing Recovering in September
Written by Sandy Williams
Global manufacturing continued its road to recovery in September. The J.P. Morgan Global Manufacturing PMI rose to a 25-month high of 52.3 from 51.8 in August, for a third consecutive month of expansion.
All of the index components were solidly above the 50 neutral point except for employment, which posted a PMI of 49.5. A jump in new orders was supported by the first expansion in international trade since August 2018. Exports rose across all product categories: consumer, intermediate and investment goods. Production increased at a rate of growth similar to August’s 28-month record, said J.P. Morgan. Business optimism was the highest in over two years, particularly for investment goods producers.
