Global manufacturing activities on recovery path as August PMI print strong in major economies

Must Read

- Advertisement -

Across the globe this week, a major signalling macroeconomic indicator published by many statistics bureau is the Manufacturing Purchasing Managers’ Index (PMI) for the month of August, 2020.

major economies, Global manufacturing activities

The Manufacturing PMI is a composite index, used to measure the overall performance of the manufacturing sector of an economy (on monthly basis) by aggregating the trends in Production level, New orders, Supplier delivery time, Employment level, and Raw material inventory for the month.

Given the significance of the manufacturing sector contribution to an economy’s GDP, the Manufacturing PMI is an established leading indicator of what the performance of an economy’s GDP would be in the nearest quarter-end.

A PMI above 50 index points indicates that the manufacturing activities of an economy have expanded compared to the prior month; a PMI below 50 index points indicates contraction in manufacturing activities relative to the prior month; while a PMI of 50 indicates no change from the previous month position.

- Advertisement -

From the data released across the tracked economies, we noticed a broad-base recovery in Manufacturing PMIs in the month of August 2020; an indication that manufacturing activities are beginning to pick up across the globe, post-COVID-19 pandemic induced lockdown.

Specifically, of the six economies of interest, the August 2020 Manufacturing PMI settled above 50 index points in the U.S., China, UK, Germany, and South Africa, save for Nigeria whose PMI (though better than the last three months) settled at 48.5 index points.

HEADLINES YOU MIGHT HAVE MISSED FROM BRAND SPUR

CredoLab raises USD 7m to expand its market reach in Africa and other new markets

CredoLab, a leading developer of bank-grade digital credit scorecards based on smartphone metadata which launched in Nigeria, Kenya, and South Africa, last year, has secured USD 7 million in its Series-A round funding led by GBG, the global specialist in identity data intelligence.

- Advertisement -

Cars with embedded connectivity to reach 200m by 2025, with 5G adoption set to soar

A new study from Juniper Research has found that the number of cars with embedded connectivity will reach 200 million globally by 2025; rising from 110 million in 2020. One of the main beneficiaries of this growth will be mobile

Read Also:  CBN Chairman Tips Nigeria’s Economy to Grow by 3 percent in 2019

Nitro121 promises bespoke offerings to clients, celebrates 15th anniversary

The leading brand-building and marketing communication company, Nitro 121 (formerly known as 141 Worldwide), turns fifteen on the 1st of September 2020 and promises to continue to deliver bespoke marketing communications services to clients and other partners.

- Advertisement -

Top 25 most valuable aerospace and defence brands could lose over $22bn of brand value from COVID-19

Aerospace and defence sector heavily impacted by COVID-19 pandemic, brands could lose up to 20% of brand value, equating to a US$22.8 billion loss cumulatively

Read Also:  GTI Stock Recommendations For The Week (17/02/2020 - 21/02/2020)

Ikeja Electric’s bilateral power attains first-year milestone as customers score service high

Ikeja Electric Plc (IE), Nigeria’s largest Electricity Distribution Company, is celebrating the first year anniversary of its Willing Buyer, Willing Seller initiative dubbed Bilateral Power by customers. The company’s Bilateral Power service promises customers a minimum of 20 hours of power supply and improved service in exchange for cost-reflective tariffs.

Nigeria Rugby Union signs kit sponsorship deal with BLK Sports

British Apparel Company BLK Sport and The Nigeria Rugby Football Federation (NRFF) have signed an exclusive long-term kit sponsorship/partnership deal aligning with the Company’s global strategy.

Apple buys another company

Apple reportedly bought VR startup Spaces, the tech giant’s eighth disclosed acquisition of the year. We discuss Apple’s moves in the VR space — including a patent for reducing motion sickness while working virtually in a vehicle.

Efe Omoregbe, Bada Akintunde-Johnson, Ayeni Adekunle, others confirmed to speak at MTN’s business of the art series

In line with its continuous commitment to youth development in Nigeria, MTN Foundation, the CSR arm of Nigeria’s leading ICT company, MTN Nigeria, has engaged leading minds in the Nigerian entertainment and media industry for this year’s edition of MTN’s Business of the Art Series.

 

- Advertisement -
spot_imgspot_img

Subscribe to BrandSpur Ng

Subscribe for latest updates. Signup to best of brands and business news, informed analysis and opinions among others that can propel you, your business or brand to greater heights.

- Advertisement -

LEAVE A REPLY

Please enter your comment!
Please enter your name here

This site uses Akismet to reduce spam. Learn how your comment data is processed.

Latest News

Schneider Electric

Manliki Joins Schneider Electric As Marketing Communications & Digital Lead

Arafat O. Manliki, former digital marketing manager at MTN has ended his 14-year career journey to resume his new position as the marketing communications...
bitcoin Central Bank digital currency Naira Bitcoiners Bitcoin Touches $18K, Crypto Asset Looks to Smash All-Time High, ETH Price Could Spike 20x

Bitcoin and Nigeria

- Advertisement -
spot_imgspot_img

Latest News

Manliki Joins Schneider Electric As Marketing Communications & Digital Lead

Arafat O. Manliki, former digital marketing manager at MTN has ended his 14-year career journey to resume his new...
- Advertisement -
BrandsPur Weekly Cartoons
- Advertisement -spot_imgspot_img