At 53.9 in January, the JPMorgan Global All-Industry Output Index1,2 — which is produced by JPMorgan and Markit in association with ISM and IFPSM — posted a further sideways movement to signal that the growth rate of global output continued to track at a solid clip.
The combined output of the world manufacturing and service sectors has now risen for 16 successive months. Manufacturing continued to lead the upturn, with January seeing the pace of expansion in manufacturing production outpace that for services business activity for the fourth straight month.
N.B. the back history of the global PMI indicators have been revised due to the implementation of updated national weights applied to data points from January 2010 onwards. Of the surveys usually available for inclusion at the time of latest publication, January 2014 manufacturing data for Mexico, Vietnam and Taiwan, China services and Hong Kong whole economy were not available to include due to delayed release dates for these surveys.