Abstract In October 2015, the global manufacturing industry improved slightly. US manufacturing activity increased slightly due to orders, construction spending was better than expected; European manufacturing rebounded, German business improved, and the UK performed well; in Asia, China, South Korea and India performed poorly. ...
In October 2015, global manufacturing improved slightly. US manufacturing activity increased slightly due to orders, construction spending was better than expected; European manufacturing rebounded, German business improved, and the UK performed well; in Asia, China, South Korea and India performed poorly. The JP Morgan Chase report shows that global manufacturing is still in a period of low growth in October, as the continued downturn in emerging Asian markets offsets growth in many major developed industrial countries. The JP Morgan Global Manufacturing Index for October was 51.4, up from 50.7 in September and climbing to its highest level in seven months.
Outputs and new orders in the global manufacturing sub-index increased, reaching a five-month and seven-month high respectively. Although trade is still tepid on a global scale, the new export orders index resumed growth after a three-month contraction.
The main economies and countries are as follows:
US : The US Institute for Supply Management (ISM) released data showing that the manufacturing activity index fell to 50.1 in October, falling for the fourth month, and September was 50.2. The October index was slightly higher than analysts surveyed by Reuters. 50.0.
Eurozone : The Eurozone's manufacturing Purchasing Managers' Index (PMI) rose in October, but growth is still weak, although quantitative easing (QE) has been implemented for more than half a year. According to the specific data, the final value of the manufacturing PMI in the Eurozone in October rose slightly from 52.0 in September to 52.3, slightly higher than the expected value and the initial value (both also 52.0). The index has been on the top of the boom and the watershed 50 for more than two years. As for the member states, the overall German manufacturing activity remained stable, the pace of recovery in the French manufacturing industry was rampant, and Italian manufacturing activity continued to grow for the ninth consecutive month.
Germany's manufacturing PMI fell slightly in October, but the overall remained stable, indicating that the German economy has survived the Volkswagen emissions scandal and the Chinese economic slowdown at the beginning of the fourth quarter. According to the specific data, the final value of German manufacturing PMI in October fell to 52.1 from the final value of 52.3 in September, but higher than the expected value and initial value (both are 51.6).
France's manufacturing activity in October expanded slightly for the second consecutive month, but failed to accelerate the expansion because of the increase in corporate layoffs. According to specific data, the final value of the French manufacturing PMI in October was flat at the end of September, which was 50.6, slightly less than the expected value and the initial value (both are 50.7).
The UK's manufacturing PMI unexpectedly jumped to its highest level in 16 months in October, benefiting from a rebound in export orders, indicating that UK economic growth is expected to accelerate in the last quarter of this year.
Italian manufacturing activity has grown for the ninth consecutive month in October and is at its fastest level since July, suggesting that the recovery in Europe's third-largest economy may be growing. Specific data showed that Italy's manufacturing PMI rose to 54.1 in October from 52.7 in September, higher than the expected value of 53.0.
Switzerland's SVME manufacturing purchasing managers' index (PMI) rebounded in October, indicating that the country's manufacturing activity recovery has gradually stabilized. After seasonal adjustment, Switzerland's SVME manufacturing PMI rose to 50.7 in October, with an expected 50.2.
Spain's manufacturing PMI for October was 51.3.
Greece's manufacturing PMI rose to 47.3 in October.
Japan : After the seasonal adjustment of the Nikkei Japan Manufacturing Purchasing Managers' Index (PMI) in October, the final value was 52.4, slightly lower than the initial value of 52.5, but higher than the September final value of 51. The data reflects that Japan's manufacturing activity expansion rate in October was the fastest in a year, as new orders for domestic and export increased.
South Korea : South Korea's manufacturing purchasing managers' index (PMI) ended its monthly improvement in October, from 49.2 in September to 49.1, and has been contracting for eight consecutive months. During the period, production and new orders declined slightly; employment and procurement activities contracted slightly; input and output prices fell, especially the latter's second-largest decline in six and a half years.
India : India's manufacturing PMI fell to 50.7 points in October from 51.2 points in the previous month, not only hitting a 22-month low, but also on the verge of recession. The lack of kinetic energy for new orders is the main reason for the slowdown in India's manufacturing expansion.
Australia : Australia's October AIG manufacturing index ended a three-month rise, from 52.1 in September to 50.2, reflecting a significant slowdown in manufacturing expansion. (Source: Economic Operation and Market Analysis of Machinery Industry)
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