Growth of the global manufacturing sector accelerated in March, with the latest expansions in output and new orders emanating from a broad base of nations. At 56.7, up from 55.4 in February, the JPMorgan Global Manufacturing PMI rose to its highest level since May 2004. The headline PMI has remained above the no-change mark of 50.0 for nine consecutive months.
Production increased again in March, extending a sequence of expansion that began in June last year. The rate of growth was sharper than in the previous month and only slightly below January's 68-month high. The average PMI output index reading for Q1 2010 is the greatest since Q2 2004.