This article follows last week’s focus on the UK, with April PMI data now available for a wider range of countries, pointing to a mixed but generally improving global picture. The global manufacturing PMI rose to 52.6 in April (from 51.3 in March), its highest level in over four years. The index has now remained above the 50.0 expansion threshold for nine consecutive months, with most components indicating improved operating conditions.
Output growth strengthened to a near five-year high, although employment declined slightly for a second month. Growth was broad-based. Of 32 countries reporting, 19 recorded expansion, with momentum improving in several major economies, including China, the US, the euro area and Japan.
In the euro area, the PMI rose to 52.2, its highest in nearly four years. All eight countries covered were in expansion for the first time since mid-2022. Ireland and the Netherlands led growth, while the largest economies saw more modest gains, with a slight slowdown in Germany.
Elsewhere in Europe, trends were mixed. Sweden recorded the strongest global reading (57.2), while Poland and Romania remained in contraction, though both showed some improvement. Switzerland continued its recovery, returning to sustained expansion after a prolonged period below 50.
Across Asia, most countries remained in expansion, with only Pakistan slipping just below the threshold. Australia also returned to growth after a brief dip in March.
In the Americas, the US saw stronger growth, while Brazil moved back into expansion after nearly a year of contraction. Canada also strengthened, Colombia remained in positive territory with a slight easing, and Mexico continued to decline.
The strongest reading globally was Sweden (57.2), while the weakest was Türkiye (45.7). The largest month-on-month improvement was recorded in Brazil (+3.6 points), while the largest month-on-month fall was Pakistan (-3.0 points).
The individual S&P Global PMI reports are available to download on their website at https://www.pmi.spglobal.com/Public/Release/PressReleases but we also have a summary charts report which is available to download below. You should note that the PMI readings for Hungary, Sweden and Switzerland are not compiled by S&P Global but can be found with an appropriate internet search (it also means that they are not part of the global PMI calculation).