US Manufacturing PMI Soars in February

U.S. manufacturing registered a PMI of 60.8 percent for February according to the latest ISM® Report On Business® to reach the highest figure since the start of the COVID-19 global pandemic.

“Manufacturing performed well for the ninth straight month, with demand, consumption and inputs registering strong growth compared to January,” says Timothy R. Fiore, Chair of the ISM® Manufacturing Business Survey Committee. “Labor-market difficulties at panelists’ companies and their suppliers continued to restrict manufacturing-economy expansion and will remain the primary headwind to production growth until employment levels and factory operations can return to normal across the entire supply chain.”

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Italy and India Show Manufacturing Growth in January

Supply Chain Issues and Labor Shortages Present Challenges

Manufacturing in India showed strength with a reported 57.7 PMI from Markit Economics, which represented a fourth straight month of improvement. Italy had a second straight month of growth and a big uptick to a reported PMI of 55.1 percent after registering 52.8 in December. That represents Italy’s highest level since February 2018.

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US PMI Drives Higher in December

The Institute for Supply Management® (ISM®) reported a December PMI® of 60.7 percent for US manufacturing, up 3.2 percentage points from the November reading of 57.5 percent. That figure was the highest since August of 2018 and also indicates expansion in the overall economy for the eighth month in a row after contracting in March, April, and May.

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Global Manufacturing Cools Off in November

After surging to two-year highs in October, the US and Eurozone manufacturing numbers for November dipped slightly with Germany and Italy also following the pattern. China was the exception as the Caixin PMI registered 54.9 to hit a new series high. 

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US Manufacturing Surge for October

Economic activity in the manufacturing sector grew in October, with the overall US economy notching a sixth consecutive month of growth, say the nation’s supply executives in the latest Manufacturing ISM® Report On Business®

ISM reported a US manufacturing PMI of 59.3 percent, up 3.9 percentage points from the September reading of 55.4 percent and the highest since September 2018 (59.3 percent). The figure indicates expansion in the overall economy for the sixth month in a row after a contraction in April, which ended a period of 131 consecutive months of growth.

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Germany Leads PMI Charge For September

While Euro Area manufacturing had a strong performance in September with a PMI reading 53.7 percent, German manufacturers led the charge with a 4.2 percent increase over August to hit a IHS Markit/BME reported figure of 56.4 percent. That represented the best expansion in the sector since July 2018 while the new order growth figure was among the strongest reported months since 1996. Improved demand across Europe, China and Turkey also saw new export orders reach the highest level for Germany since December 2017.

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August PMI Figures Continue Upward Trend

US manufacturers continue to lead the global trend for PMI growth as ISM® reported a PMI of 56 percent for August. While the Euro Area figure slipped from 57.8 to 57.1, Germany and Italy both saw improvement after entering growth territory the previous month.

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US PMI Leads the Charge in July

The Institute for Supply Management® (ISM®) reported a July PMI of 54.2 percent for US manufacturers. That was up 1.6 percent from the June figure and was the highest point since March 2019.

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