FOR IMMEDIATE RELEASE
MONTREAL, QC, July 27, 2021 (Press Release) – Numera today released the latest update of its Global Manufacturing Tracker, which reveals manufacturing output is normalizing into mid-2021.
Worldwide factory output fell 1% in May, with production edging down in most region, owing to new COVID outbreaks and substitution towards contact services in countries with a high vaccine coverage. Despite weakening demand, inflationary pressures continued to build, with elevated commodity inflation lifting global producer prices by a staggering 21% SAAR in May. Our latest estimates point to growth resuming at a moderate pace in June and July, with the overall output gap remaining positive but stable.