Economy
April 1, 2021
March PMI a Sign of Global Manufacturing Recovery
Written by Sandy Williams
Rising costs and supply-chain disruptions remained headwinds for manufacturers across the globe in March. Despite the challenges, the J.P. Morgan Global Manufacturing PMI reached a 10-year high of 55.0.
Manufacturing output expanded at the strongest rate in a decade as demand strengthened domestically and in international trade. Growth was reported in 23 of 27 nations surveyed by J.P. Morgan and IHS Markit. Backlogs increased everywhere due to raw material shortages and supply chain delays. Manufacturing employment jumped for the fifth month in most nations, but declined in China and Brazil. Prices for raw materials continued to rise, pushing selling prices up to cover costs.
