The Global PMI, published by Markit in accordance with JPMorgan, reached 53.3 in February. That’s up slightly from the 53 posted in January and good for a 34-month high. “The global PMI has signaled expansion in each of the past 15 months and, in broad terms, maintained a gradual upward trend since April of last year,” Markit noted in a statement. However, “disparities remained between the developed and emerging markets.”
Among the winners were the United States and Europe, primarily the western and northern EU nations. The US Manufacturing PMI spike from 53.7 in January to 57.1 illustrated its sharpest improvement in manufacturing business conditions since May 2010, which Markit characterized as “robust.” New order growth and output both surged and should reassure the most important market watchers.
Meanwhile, the Eurozone Manufacturing PMI continued to impress with a reading of 53.2 in February. Though slightly off pace from January, it was expected given that last month represented a 32-month high. Importantly, positive news came from countries like France where most of last month’s gains were maintained and contraction eased.
On the flip side, statistics indicate PMI contraction in China, South Korea and Russia as well as lagging, below-average statistics in Brazil, India, Indonesia and Vietnam.
- Brian Shappell, CBA, CICP, NACM staff writer
More analysis and a chart roundup of conditions throughout the world will be included in the extended version of this story in this week's eNews, available late Thursday afternoon (EST).