Global sector PMI data highlight broad-based rebound in output in March
Markit’s global sector PMI™ data signalled renewed output growth across a range of industries in March. Following on from February, during which 11 out of 23 detailed sectors monitored registered either falling or stagnant business activity, seven of these sectors returned to growth in March. Moreover, eight further sectors posted sharper rates of expansion in the latest period.
Notable among the seven sectors to post renewed growth in March was metals & mining, which saw output increase for the first time since the start of 2015. Meanwhile, insurance and automobiles & auto parts both rose 15 places in the rankings since February to sixth and seventh respectively.
The food, beverages, healthcare services and software & services sectors remained at the top of the growth table in March, retaining their relative positions. Other financials continued to post the sharpest decline in activity in March, but the pace of contraction slowed.
At the broad level, technology registered the strongest rise in output in March, and was also the best-performing area over the first quarter as a whole. Basic materials was the only major group to post falling output over the first quarter on average, but March data signalled a fractional increase. (read more)