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New orders growth ''drives up global manufacturing PMI''

8 March 2011
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New orders growth ''drives up global manufacturing PMI''The Purchasing Managers' Index (PMI) for the global manufacturing industry reached its joint second-highest level during February this year, new figures have shown.

Data from JPMorgan revealed growth in new orders and output boosted activity from January, with production up for 21 months in a row.

The Global Manufacturing PMI jumped to 57.8 in February 2011, continuing a strong start to the year by the sector, with any figure above 50 indicating growth.

Individuals concerned with continuous improvement and manufacturing management may be interested in the news that job creation sped up over the month in question.

Compiled by Markit Economics, the study also showed input prices climbed at their fastest rate in 2.5 years.

JPMorgan director of global economics coordination David Hensley remarked: "Inflationary pressures are building, as rising commodity prices, particularly for oil and softs, drove up manufacturer's costs."

The CIPS and Markit PMI for the UK's production sector rose stood at a record 61.5 in February.ADNFCR-3058-ID-800448591-ADNFCR
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