Posted By Paul Tate, June 24, 2014 at 4:25 AM, in Category: Manufacturing Leadership Community
The latest interim figures for manufacturing sector growth in June suggest the U.S. is on track for its best performance in 4 years, according to industry analysts Markit.
The Markit ‘Flash’ Purchasing Managers’ Index (PMI) for the U.S. is expected to rise to 57.5 this month, up from 56.4 in May, the strongest upturn in overall business conditions since May 2010, driven by the fastest manufacturing output and new orders growth for the last four years.
“US industry is booming again,” said Chris Williamson, Markit’s Chief Economist.
Growth is also on track to return to some of Asia’s key manufacturing powerhouses this month too, with Japan’s ‘Flash’ PMI rising over the 50-growth threshold to 51.1 for the first time in three months, and China recording a PMI of 50.8, a seven-month high.
The Eurozone is also still showing overall growth in manufacturing, but the rate of expansion is expected to slip this month to 51. 9, a seven-month low, dragged down by what appears to be a deepening downturn in French industrial fortunes.
Watch out for the final manufacturing industry growth rates for all the major global economies in June to be released next week.
Written by Paul Tate
Paul Tate is Research Director and Executive Editor with Frost & Sullivan's Manufacturing Leadership Council. He also directs the Manufacturing Leadership Council's Board of Governors, the Council's annual Critical Issues Agenda, and the Manufacturing Leadership Research Panel. Follow us on Twitter: @MfgExecutive