Economic Buzz: Global manufacturing growth accelerates despite sharp rise in prices

The start of the second quarter of 2026 saw rates of expansion in global manufacturing output and new orders strengthen. However, price and supply chain pressures continued to build, while business optimism stabilised at March's five-month low. The J.P.Morgan Global Manufacturing PMI ? a composite index produced by J.P.Morgan and S&P Global Market Intelligence in association with ISM and IFPSM ? rose to 52.6 in April, up from 51.3 in March, its highest level in over four years (since March 2022). The headline PMI has remained above the neutral 50.0 mark for nine successive months. Four out of the five PMI components (new orders, output, stocks of purchases and suppliers' delivery times) were at levels consistent with an improvement in operating performance. Employment showed a slight decrease for the second month in a row. Manufacturing production increased for the ninth month running, with the rate of growth hitting a near five-year high. Expansions were signalled across the consumer, intermediate and investment goods sectors.

Powered by Commodity Insights