Global Manufacturing PMI Hits 13-Month Streak Above 50
Global manufacturing expansion picks up pace in August
The J.P.Morgan Global Manufacturing PMI climbed to 52.3 in August 2026, up from 52.1 in July, marking a three-month high and the thirteenth consecutive month the index has held above the neutral 50.0 threshold that separates expansion from contraction, according to the J.P.Morgan Global Manufacturing PMI press release published by S&P Global on September 1, 2026.
What the data shows
The improvement was broad-based. Output, new orders, and employment all accelerated during the month. New export orders rose for the first time since April, climbing at the quickest pace in six months, with mainland China, Japan, and the eurozone registering gains while North America's trade performance deteriorated. Employment growth reached its fastest pace in three years, led by hiring in the United States and Japan, while staffing levels in mainland China held steady.
Costs are cooling even as momentum builds
Input price inflation eased to a six-month low in August, and output price increases slowed in step, giving manufacturers some relief on the cost side even as demand strengthened. Business sentiment stayed constructive, with optimism reaching its joint-highest level since February. "The J.P. Morgan global manufacturing output PMI rose 0.3-point in August, recovering to a level that suggests ongoing strength in global industry," said Maia Crook, Global Economist at J.P.Morgan.
Why it matters for industrial buyers and suppliers
A composite index sustained above 50 for over a year points to steadier global factory demand than the volatile stretch of the past two years, which affects everyone selling into or buying from international manufacturing supply chains — from raw material and component suppliers to equipment exporters. Firmer new export orders, in particular, suggest manufacturers in major economies are rebuilding order books rather than simply working through backlogs.
What to watch next
The next release will show whether August's export-order rebound extends into September, and whether input costs continue to ease or start climbing again as petro-based product prices remain elevated. A run of readings above 53 would mark a clearer acceleration; a slip back toward 50 would suggest August's gain was a temporary bounce rather than a trend change.
