The global output Purchase Manager’s Index (PMI) grew from 55 in March to 55.7 in April as new orders increased from 55.8 to 56.7, according to IHS Markit. Input prices began to show inflation with the high index of 68.4 in March trending up to 69.6 in April. Output price index increased from 59.3 in March to 59.7 in April.
The IHS Markit Eurozone PMI climbed to 62.9 in April from a March final level of 62.5, at record level since data began in June 1997. The PMI was influenced by considerable increases in output and new orders. Price increases became evident as supplier delivery times lengthened.
Manufacturers increased purchasing activity on fear of shortages and growing economic activity. Companies added to workforce which in turn is supporting the circular economy with stronger consumer goods buys.