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Friday, 1 April 2016

12 year high for manufacturing gauge (58.1)

Gosh, that's an outsized result for AIG's Performance of Manufacturing Index reflecting the lower level of our currency, in spite of the recently resurgent dollar.

The last quarterly detailed employment data which I looked at here suggested a recent bounce in manufacturing employment after many years of structural decline. 

Given that a reading of over 50 denotes expansion the March result of 58.1 is certainly a big 'un, up by +4.6 points from February's already strong result. 

The index has racked up nine months of consecutive expansion and not seen such a high reading since 12 years ago in 2004!

Source: AIG

Nice news to see.

Full report from AIG here.