Global Manufacturing Index Slightly Weaker In April
- The JP Morgan Global purchasing managers’ index (PMI) fell to 50.3 in April from 50.5 in March, and is now at its lowest level since June 2016. The bank said the weakness in the global manufacturing sector was most evident in the intermediate and investment goods sectors, both of which saw production and new orders contract. Output and new business in the consumer goods industry accelerated, meanwhile.
- IHS Markit announced the eurozone’s manufacturing sector remained firmly in contraction territory at 47.9 in April. The report said the capital and intermediate goods sectors remained the principal areas of weakness in April. In contrast, the consumer goods sub-category continued to expand, with growth here rising to a modest level. IHS Markit’s reading for the United Kingdom, meanwhile, fell to 53.1 in April from 55.1 in March due to weaker growth in production, new orders and stocks of purchases.
- The Caixin PMI for China fell to 50.2 in April from 50.8 in March, but the report noted output and total new work both rose slightly and buying activity stabilized. The Nikkei reading for ASEAN countries – Indonesia, Malaysia, Myanmar, the Philippines, Singapore, Thailand and Vietnam – improved while the reading for India declined. A survey of Japanese manufacturers for April has not yet been released.
- As a reminder, all available PMI readings can be found here.