September PMI shows global recovery remains fragile

Must Read

FG, States, LGAs share N528.39bn FAAC allocation in Jan 2021

The Federation Account Allocation Committee (FAAC) disbursed the sum of N619.34bn to the three tiers of government in December...

How To Block Your Bank Account And SIM Card In Case Of Emergency

Losing your phone and wallet or having them stolen can be very frustrating. However, in case that happens to...

List of Access Bank Sort Codes & Branches (with addresses) in Nigeria

The sort code is a number which usually identifies both the bank and the branch where an account is...
- Advertisement -

The average performance of manufacturing activities in leading economies across the globe in September 2020 shows that global recovery from the disruptive impact of the COVID-19 pandemic remains fragile, as Manufacturing Purchasing Managers’ Index (PMI) came in disappointing in four of the six monitored economies.

September PMI shows global recovery remains fragile
Photo by Kyle Glenn

The PMI is a leading macroeconomic indicator, used to gauge the overall performance of the manufacturing sector of any economy as it relates to Production level, New orders, Supply delivery, Employment, and Inventory build-up.

Trend of Manufacturing PMI in Selected Economies

September PMI shows global recovery remains fragile
Sources: Investing.com, CBN, GTI Research

A PMI reading above 50 index points implies expansion of manufacturing activities in the period under review, a PMI below 50 index points indicates contraction of the manufacturing sector, while a PMI of 50 index points indicates no change in manufacturing sector performance from the previous month.

- Advertisement -

According to the September manufacturing reading published by top economies this week, manufacturing activities in the U.S. and UK rose at a weaker pace compared to the prior month, while the Index picked up markedly in Germany and France compared to the prior month.

The index, (though better than the prior month) settled below the expansion region (above 50 index points) in Japan, while Nigeria witnessed a retrogression of the recent improvement in its reading as the index for September printed at 46.9 index points, compared to 48.5 index points in the preceding month.

- Advertisement -
September PMI shows global recovery remains fragile - Brand SpurSeptember PMI shows global recovery remains fragile - Brand Spur
- 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.

September PMI shows global recovery remains fragile - Brand SpurSeptember PMI shows global recovery remains fragile - Brand Spur

Latest News

Balyesa, Delta Beat Lagos To Become Top Investment Spots For Q1 2021 – NIPC

Nigerian Investment Promotion Commission (NIPC) reports that US$8.41 billion was tracked as investment announcements for Q1 2021, about 75%...
- Advertisement -
BrandsPur Weekly Cartoons
- Advertisement -September PMI shows global recovery remains fragile - Brand SpurSeptember PMI shows global recovery remains fragile - Brand Spur