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Basic materials output growth hits three-year high

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Staff Writer | August 9, 2017
The latest set of IHS Markit Global Sector PMITM data signalled stronger growth of basic materials output in July.
Basic materials output
World economy   IHS Markit Global Sector PMI
The rate of expansion of production in the broad sector – which includes chemicals and resources such as metals and wood – accelerated to the fastest since June 2014.

As a result, basic materials rose to third in the global rankings, its highest position since last November.

The strongest overall rate of expansion was again registered in financials, albeit the weakest in three months.

This mainly reflect strong growth in other financials – including consumer financial services, specialty financials and investment services – which topped the detailed sector rankings, and banks.

Real estate posted another relatively muted increase in activity, but saw faster growth of new business.

Consumer services registered another weak rise in activity in July and remained the bottom-ranked broad sector for the third straight month.

Another consumer-related sector, automobiles & auto parts, registered no change in output in July, while beverages was the only detailed sector monitored to post a contraction.