Manufacturing activity strengthened across Europe and Asia in September as AI-related investment lifted demand for semiconductors, machinery and other capital goods, although rising energy and input costs remain a challenge. Global factory activity strengthened in September as improving demand for technology and investment goods supported manufacturing across major economies. The Global Manufacturing PMI reached 53.0, its highest level since February 2022, indicating a broader expansion in industrial production and new orders. A major source of this momentum is rising investment in artificial intelligence infrastructure, which is increasing demand for semiconductors, servers, capital equipment and related industrial products.
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