Global manufacturing revives in January
LONDON (Reuters) - Global manufacturing activity bounced back last month, chalking up its biggest one-month rise since August 2009, according to a business survey on Friday that provided further signs of economic recovery.
JPMorgan's Global Manufacturing PMI, produced with research and supply management organizations, rose to 51.5 in January from December's 50.1, above the 50-mark that divides growth from contraction for the second straight month.
"The global manufacturing sector has made a bright start to 2013, with the PMI indicating that output growth recovered to a ten-month high following the soft patch seen during much of last year," said David Hensley, director of global economics coordination at JPMorgan.
"The continued upward trend in PMI orders suggests the PMI, and global production growth, may strengthen further in the next few months."
The new orders sub index rose to 51.8 from 49.7, its first time above 50 since last May. Manufacturers also expanded their workforce at a faster rate than they did in December.
In the United States, the pace of growth in manufacturing picked up in January to its highest level in nine months as new orders and employment improved.
Much of Asian manufacturing stalled in January with only a weak rebound in China, but the worst may be over for Europe where poor demand has been a major drag on Asian exporters' performance, according to earlier data.
The index combines survey data from countries including the United States, Japan, Germany, France, Britain, China and Russia.
(Reporting by Jonathan Cable; Editing by Ruth Pitchford)
- Malaysian plane presumed crashed; questions over false IDs |
- China draws 'red line' on North Korea, says won't allow war on peninsula
- Warning shots fired to turn monitors back from Crimea |
- Malaysian plane crashed off Vietnam coast: state media