🇺🇸 U.S industrial production continued to contract at the start of the third quarter according to the latest offici… https://t.co/wop1XXCIfh
Global economy gains momentum for second month running in March but manufacturing malaise deepens
The following is an extract from IHS Markit's monthly PMI overview presentation. For the full report please click on the link at the bottom of the article.
Global economy gains momentum but sentiment grows gloomier
The pace of global economic growth picked up again in March from a near two-and-a-half year low seen at the start of the year, but remained among the weakest since 2016. At 52.8 in March compared to 52.6 in February, the JPMorgan Global PMI, compiled by IHS Markit, rose for a second successive month to signal the strongest expansion of global output since November. The first quarter average PMI reading is indicative of worldwide GDP rising at an annual pace of just over 2% (at market prices).
Business sentiment meanwhile sank lower, however, casting doubt over whether the current improvement in growth momentum can be sustained. The current level of business confidence is now one of the lowest seen since comparable data were first available in 2012, down to the joint-lowest since June 2016. Furthermore, inflows of new business continued to run at one of the slowest rates seen for two-and-a-half years, contributing to a stagnation of backlogs of work and leading to a slowdown in the overall pace of hiring.
Chris Williamson, Chief Business Economist, IHS
Tel: +44 207 260 2329
© 2019, IHS Markit Inc. All rights reserved. Reproduction in whole or in part without permission is prohibited.
Purchasing Managers' Index™ (PMI™) data are compiled by IHS Markit for more than 40 economies worldwide. The monthly data are derived from surveys of senior executives at private sector companies, and are available only via subscription. The PMI dataset features a headline number, which indicates the overall health of an economy, and sub-indices, which provide insights into other key economic drivers such as GDP, inflation, exports, capacity utilization, employment and inventories. The PMI data are used by financial and corporate professionals to better understand where economies and markets are headed, and to uncover opportunities.
- Malaise in Germany helps drive Czech manufacturing downturn
- Zambian economy continues to struggle at start of third quarter
- Week Ahead Economic Preview: Week of 19 August 2019
- IHS Markit European GDP Nowcasts Update 15th August 2019: Nowcasts suggest economic weakness has stretched into third quarter
- UK economy slides into decline in second quarter
- PMI survey comments show mounting global pessimism
- Global economy lifted by services but hit by steepening decline in manufacturing
- Hong Kong PMI signals worst downturn for over a decade in July amid trade wars, protests
Global business uncertainty continues to build, as isolated troubles in Asia add to ongoing tensions from trade war… https://t.co/I1DkQVphPO