Global: Manufacturing’s Mojo returning – BNPP

Analysts at BNP Paribas notes that the global manufacturing is rebounding as in the last half year or so, the global PMI has recovered most of the ground lost in the previous two years.

Key Quotes

“Better growth in China is an important factor, together with optimism about the US and firmer commodity prices.”

“Better manufacturing leads to more manufacturing-intensive investment and so strength can continue to build.”

“The big risk to all this is protectionism. This can dampen investment in the traded goods sectors well ahead of actual protectionist legislation.”