JPMorgan/S&P Global’s manufacturing index notched a second month above expansionary territory in March and sits at the highest level since July 2022. If sustained, that’ll help catalyze a broader and stronger economic recovery that’s already spreading beyond the US.
Assembly lines around the world are starting to hum again, marking a turn in a years-long manufacturing slump.
The nascent industrial recovery is led by the world’s two biggest economies. Chinese manufacturing has made a strong start to the year, boosting the economic outlook, and US factory activity unexpectedly expanded last month for the first time since September 2022, buoyed by rising new orders and a jump in production.
