Global manufacturing growth slowed in March – JP Morgan

LONDON, April 1 (Reuters) – Global manufacturing activity
expanded at slower rate last month than February’s near-record
pace but remained at a robust level, a survey showed on Friday.

The Global Manufacturing PMI, compiled by JP Morgan with
research and supply organisations, fell in March to 55.8 from
57.4 in February, but marked its 21st month above the 50 mark
that separates growth from contraction.

“Although easing from a near-record high in February, the
March PMI data remained well above long-run trend,” JP Morgan’s
David Hensley said.
Input prices saw a further marked increase as the inflation
rate remained close to February’s two-and-a-half year peak while
job creation was reported by firms for the sixteenth month
running in March, with the rate of increase remaining close to
February’s series record peak, JP Morgan said.
Earlier data showed factories in Europe eased off the
accelerator last month but Chinese and Indian manufacturers
bumped up production, so far unscathed by Japan’s devastating
earthquake and tsunami. [ID:nLDE7300VH]

The United States manufacturing sector grew at a marginally
slower pace in March after accelerating at its fastest rate in
nearly seven years the month before, data showed.
[ID:nN01286183]
The global indicator, produced by JP Morgan with research
and supply management organisations, combines survey data from
around 20 countries including the United States, Japan, Germany,
France, Britain, China and Russia.

(Reporting by Jonathan Cable; Editing by Toby Chopra)

Global manufacturing growth slowed in March – JP Morgan