Global Factory Activity: Tariff Announcements Pressure US Manufacturers as Price Increases Loom

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Amid reports of lower demand from worldwide markets, new export orders declined for the second consecutive month in March.

New order growth reached a four-month high in the month as new export orders recovered from a contraction seen in February.

It added that new orders continued to decline during the month. Input price inflation remained marked in March, despite easing to a six-month low. We have posted nine negative readings since our launch in April 2013, the latest in January 2017.

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Looking at the monthly Global Manufacturing Purchasing Managers' Index (PMI) for key sourcing countries, the USA has hit on a high growth period, though looming cost increases that could come from newly levied tariffs could curb that growth in the coming months. The average PMI reading over the opening three months of 2018 meanwhile indicated the best quarterly performance since the third quarter of 2014. So it doesn't look "encouraging" in terms of our manufacturing momentum to give people a gauge of our industrial activity.

Fixed-term employment was first notified in apparel manufacturing sector. Export growth has more than halved since late past year, linked in part to the appreciation of the euro and, in some cases, demand is being stymied by higher prices.

The construction PMI out on Wednesday and Thursday's services sector reading are both forecast to show slowing sector activity, which could mean that the Pound to Euro exchange rate takes a dive.

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"Overall, I don't expect the manufacturing sector to slow significantly for this year, but it will continue to grow at the slower pace as we have to watch out for the potential headwinds to our manufacturing sector growth coming from [the] potential trade war between the USA and China". Attention and concerns is more focused on US-China trade tensions than NAFTA, it would reason.

The latest PMI figures show manufacturing production rose for the 20th successive month, as companies continued to report solid inflows of new work from both domestic and overseas markets.

Of the 18 manufacturing industries, 17 reported growth in March.

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The data for the Purchasing Managers' Index in Russian Federation is based on a survey among 300 companies in the manufacturing sector.

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