The JP Morgan global manufacturing PMI posted 51.3 in March from February’s 44-month high of 51.8, but still the second-highest reading since June 2022.
At the end of Q1 2026, growth of output and new orders slowed as global trade flows near-stagnated, while input costs surged and supply chains became increasingly stretched.
The steepest downturns were in Kazakhstan, Romania, Mexico, Russia and Turkiye.