J.P.Morgan Global Composite PMI4 Mar 2022 07:54
Global economic growth picks up from January's one-and-a- half year low
Key findings
J. P. Morgan Global Composite Output Index at 53.4 in February (two-month high)
Stronger growth of new orders and employment Price inflation gathers pace
February saw the rate of global economic expansion revive from January's one-and-a-half year low, as growth of new orders and employment accelerated and business optimism strengthened to a near record high. Price pressures remained elevated, however, with rates of increase in input costs and output charges both gathering pace.
The J.P.Morgan Global Composite Output Index – produced by J.P.Morgan and IHS Markit in association with ISM and IFPSM – rose to 53.4 in February, up from 51.1 in January. The headline index has now signalled expansion in each of the past 20 months. Rates of output growth picked up at manufacturers and service providers, with the latter outperforming the former for the tenth time in the past 11 months.
Global Services Summary
The J.P.Morgan Global Services Business Activity Index rose to 53.9 in February, from 51.0 in January. Higher levels of output were underpinned by improved intakes of new work, stronger jobs growth and rising levels of outstanding business. New export business inflows also strengthened, rising at the fastest rate in the series history (since September 2014).
Price pressures remained elevated, with both input costs and output charges increasing at sharper rates. Business optimism about the year ahead improved to an 11-year high.
https://www.markiteconomics.com/Public/Home/PressRelease/276213cdc9054c309ca8f9d73ba8a4fb
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