Economic Buzz: Upturn in global manufacturing sector continues in Aug-26

August saw the upturn in the global manufacturing sector gain impetus, as rates of expansion in output, new orders and employment all gathered pace. The outlook also remained positive on balance, with business optimism at its joint- highest level since February. 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 a three-month high of 52.3 in August, up from 52.1 in July, remaining above its neutral 50.0 mark for the thirteenth consecutive month. The five PMI sub-components were all at levels consistent with an improvement in overall operating performance in August. Alongside growth of output, new business and employment, stocks of purchases also rose and suppliers' delivery times lengthened. Note: due to a later-than-usual release date, August readings for Vietnam were not available to include in the global calculations. Global manufacturing production increased again in August, with expansions signalled across the consumer, intermediate and investment goods industries. The growth acceleration was mainly centred on the consumer goods category, as rates of increase slowed in the latter sectors.

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