Growth of Global Manufacturing Output and New Orders Moderated in March. Input Price Inflation Accelerated to Six-Month High.

Although rates of expansion for production and new orders moderated in March, conditions in the global manufacturing sector remained relatively solid overall. This was highlighted by the JPMorgan Global Manufacturing PMI posting 52.9, down from February's 53.7, but a level still comfortably above the no-change mark of 50.0.

The Global Manufacturing Output Index posted 54.4 in March, to signal expansion for the forty-seventh successive month. At its current level, the Output Index is broadly consistent with 3.0%-3.5% saar growth of global IP.