Global factory PMI jumps to 5-1/2 year high in Jan

LONDON, Feb 1 (BestGrowthStock) – Global manufacturing activity
expanded at its fastest pace in 5-1/2 years in January and
employment in the sector rose for the first time in almost two
years, a survey showed on Monday.

The global index, produced by JP Morgan with research and
supply management organisations, rose to 56.1 in January from
54.6 in December, its highest reading since the middle of 2004,
while output rose to a 69-month high of 60.2 from 57.5 the
previous month.

“The world manufacturing sector started 2010 on a robust
footing. The current phase of the recovery looks to still have
significant momentum,” said David Hensley at JP Morgan.

The global manufacturing employment index rose to 50.4 in
January from 49.7 in December, the first time the index has been
above the 50.0 mark that divides growth from contraction since
March 2008.

Earlier data from Asia showed the Chinese manufacturing
sector powered ahead last month while the recovery among
European manufacturers gathered pace with activity in Britain
expanding at its fastest pace in 15 years.

The Institute for Supply Management said the U.S.
manufacturing sector grew at its fastest pace since August 2004.
The global index combines survey data from countries including
the U.S., Japan, Germany, France, Britain, China and Russia.

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(Reporting by Jonathan Cable)

Global factory PMI jumps to 5-1/2 year high in Jan