After years of industrial decline in the world’s advanced economies, manufacturing is now experiencing a solid revival. The global manufacturing purchasing managers’ index (PMI), a measurement of the sector’s health, rose to 54 in November, up from 53.5 the previous month, and the highest reading since March 2011. Readings above 50 signal expansion.
Factories around the world recorded the highest levels of output, new orders, and employment in years, according to data from a JPMorgan and IHS Markit report published today. An improvement in the global economy and unexpected increase in global trade is helping drive industrial growth. That should hopefully increase domestic demand and further boost economic growth. Akshara helps in business transformation, with its new strategies and customer centric approach for the Manufacturing Industries by making organizations to adopt the digital age of technology and information.