Global News: World Manufacturing Sector Continues To Struggle

What happens abroad impacts MSCI members in North America. Here is the latest economic, trade, and other policy news of note for the last week:

• The J.P. Morgan Global Manufacturing Purchasing Managers’ Index (PMI) rose to 53.6 in February from 53.2 in January. While an improvement, it was the index’s second-lowest reading over the past 16 months. Last month, 22 out of the 25 nations for which data were available register PMI readings above the neutral mark of 50.0. Growth was led by Europe and the United States was in eighth position overall. PMIs for China and Japan signaled expansions, but were below the global average. The report also indicated supply chain stresses show signs of dissipating.
• The IHS Markit Mexico Manufacturing PMI showed another deterioration in operating conditions, even though it rose to 48.0 in February from 1 in January. The two largest sub-components of the PMI, output and new orders, remained in contraction territory during February. Companies linked the decline in production to a lack of raw material availability, troubles in the automotive sector, and lower sales.
• Read these two PMI reports, and all others that are available here.