Wahyu Dwi Anggoro
IDXChannel - The global manufacturing sector fell into contraction at the end of 2024, according to the latest purchasing managers' index (PMI) data.
The JPMorgan Global Manufacturing PMI – a composite index produced by J.P.Morgan and S&P Global Market Intelligence in association with ISM and IFPSM – posted 49.6
in December 2024, down from 50.0 in November 2024.
"Although the rate of deterioration signalled by the latest figure was only modest, this was the fifth decline during the past six months," the report said, Monday (2/1/2024).
Four out of five PMI components (output, new orders, employment and stocks of purchases) were at levels consistent with a deterioration in overall operating conditions.
Manufacturing production fell slightly in December. The rate of decline was only modest and, when taken together with the marginal gains seen in the previous two months, suggested output broadly stagnated over the final quarter as a whole.
Production rose in just 13 of the 30 nations for which December PMI data were available.
India reported the strongest expansion of output, followed by the Philippines, Spain, Greece, Taiwan and Canada. The solid performances of Greece and Spain bucked the trend
of the wider eurozone manufacturing sector, where the rate of contraction was on average the steepest for 14 months.
France, Germany and Austria saw the sharpest declines of all the nations covered. Steep downturns were also registered in the US and the UK, with rates of contraction hitting 18- and 11-month records respectively. Production fell slightly in Japan but registered a mild uptick in China.
(Wahyu Dwi Anggoro)
