Economy
February 2, 2021
Global Manufacturing Starts Year Robust Despite Supply Chain Disruptions
Written by Sandy Williams
Supply chain disruptions and material shortages slowed global manufacturing expansion in January. The J.P. Morgan Global Manufacturing PMI slipped to 53.5 last month from 43.8 in December and to a three-month low. Overall, however, the manufacturing sector remained robust with most nations reporting expansion in the sector. Production and new orders rose in January, but new export orders were flat at a reading of 50.0. Intermediate goods outperformed investment goods in output and new order growth while expansion in the consumer goods sector stalled.
Employment levels continued to stabilize at the start of 2021. Employment grew at intermediate and investor goods producers, but was mostly offset by deeper cuts in the consumer goods industry.
