DMRL - Global Manufacturing Growth Revives From 1.5-Year Low; Supply Shortages Inflation Persist

• The JPMorgan Global Manufacturing PMI rose from a 15-month low of 53.2 in January to 53.6 in February.
• The relative weakness of February's global output growth by historical standards contrasted with a more robust expansion of order books recorded during the month.
• The reduction in the number of companies reporting production to have been constrained by a lack of raw materials reflected a commensurate drop in the reporting of supplier delivery delays.
• The sustained upward pressure on raw material input costs, combined with upward pressure on wages as firms sought to attract and retain workers, led for a renewed upturn in global factory selling price inflation.

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