March Purchasing Managers Indices
March PMI Leading Indicators have been released by IHS Markit and the Institute for Supply Management:
- With the exception of the U.S. most countries’ PMIs showed manufacturing activity to be contracting or at least experiencing minimal growth (Chart 1).
- On a 3/12 growth basis key world PMIs are contracting (Chart 2). The Global PMI is at its lowest point since late 2006 (Chart 3).
- U.S manufacturing growth is still positive although its rate of expansion is continuing to slow (Chart 4).
- Europe has been hit especially hard (Chart 5) with most major countries except the UK, Sweden and Russia contracting in March (Chart 6). Germany’s PMI decline has been especially sharp (Chart 7).