Manufacturing Activity Gains Steam Worldwide Even as Challenges Persist
- The J.P. Morgan Global Manufacturing PMI expanded in August at the fastest pace since November 2018, and the sector continues to bounce back even as challenges persist worldwide due to COVID-19 and the severe worldwide recession.
- In August, sentiment among the top 10 markets for U.S.-manufactured goods improved in every economy except France. Six markets expanded — the same pace as in July and up from one (China) in May.
- In Brazil, manufacturers reported that new orders and output soared at record paces, and employment grew at its best rate since February 2010.
- Chinese manufacturing activity rose at the fastest pace since January 2011. Industrial production grew 4.8% year-over-year, but fixed-asset investment and retail sales continued to reflect pullbacks in activity, despite some progress.
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