Good Signs on Manufacturing, Economy

By April 2, 2010Economy

From The San Francisco Chronicle, “JP Morgan: Global Manufacturing Growth Hits A 70-Month High“:

It’s not just the U.S. and China that are experiencing record manufacturing activity growth. The entire world is rebounding hard, with JP Morgan’s Global Manufacturing PMI index hitting a 70-month high in March.

JP Morgan: Growth of production and new orders regained most of the momentum lost in February, while global trade volumes rose at a survey- record pace. Output growth will remain strong in coming months, as the manufacturing boom enters a new phase in which companies raise output to align the rate of inventory accumulation with the growth of sales.”

Bloomberg, “Manufacturing From China to U.S. Expanding in Global Recovery“:

April 2 (Bloomberg) — Factories from China to the U.S. accelerated in March, pointing to a rebound in international trade that is contributing to a global economic recovery.

Manufacturing in China grew for a 13th month and U.S. factories expanded the most since July 2004, reports showed. Business sentiment in Japan rose to the highest since 2008, while factories in Britain and the euro region stepped up production.

Surging economic growth in China is helping pull the global economy out of its worst slump in more than six decades and benefiting companies from Honeywell International Inc. in the U.S. to Germany’s Bayerische Motoren Werke AG.

The ISM Report figured in many of the stories: “Economic activity in the manufacturing sector expanded in March for the eighth consecutive month, and the overall economy grew for the 11th consecutive month, say the nation’s supply executives in the latest Manufacturing ISM Report On Business®.”

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