Global Upturn in Output Occurs Across Consumer, Intermediate and Investment Goods Categories
In October, global manufacturing activity was relatively unchanged from September, ticking up from 50.7 to 50.8. Output and new orders both rose for the third consecutive month in October. Meanwhile, inventories and lead times helped support improved operating conditions, while staffing levels remained stable for the third consecutive month. On the other hand, new export orders contracted for the seventh consecutive month and at a faster pace than September.
India, Thailand, Vietnam and Greece had the highest PMI readings in October. On the other hand, Canada, Brazil, Russia and Mexico were some of the larger nations to register declines in activity. The upturn in manufacturing output occurred across the consumer, intermediate and investment goods categories for the third consecutive month.
Meanwhile, price pressures eased to a five-month low, with investment goods being the only sector to see an acceleration. Forward-looking indicators were mixed, with business optimism falling to a six-month low despite manufacturers expecting gains in output, inventories and input purchases.