The global manufacturing sector expanded at a robust pace in May. Production rose at one of the fastest rates in a decade, as new order growth accelerated to an 11-year high. The outlook remained positive, with manufacturers forecasting further increases in output over the next 12 months.
The J.P.Morgan Global Manufacturing PMI posted 56.0 in May, up from 55.9 in April, to register its highest level in over 11 years (April 2010). Solid improvements in business conditions were seen across the consumer, intermediate and investment goods sectors.