The upturn in the global manufacturing sector lost some traction at the end of the first quarter of 2014. At 52.4 in March, down from 53.2 in February, the J.P.Morgan Global Manufacturing PMI™ — a composite index1 produced by JPMorgan and Markit in association with ISM and IFPSM — fell to a five-month low, but remained above its average for the current 16-month sequence of expansion.
Global manufacturing production increased for the seventeenth consecutive month in March. However, the rate of expansion eased to a five-month low, mainly on the back of a slowdown in Asia. Growth of total new orders also eased slightly, despite improved inflows of new export business.