• S&P Global index improved to 50.6 in February from 50.1
• Pace of new orders growth strongest since March 2022

Global factory activity expanded in February by the most in eight months, fueled by the strongest growth in new orders since 2022 and indicating manufacturing is stabilizing.

The manufacturing index, produced by JPMorgan Chase & Co. and S&P Global, edged up to 50.6 last month from 50.1 in January, the group reported Monday. Figures above 50 indicate expansion. Separate measures of input and output costs showed price pressures are gradually starting to build.

Faster production and new orders growth accounted for the improvement in the overall purchasing managers index. Measures of employment, suppliers’ delivery times and inventories remained in contraction territory.

The recent pickup in the overall factory index follows a period of general contraction in the second half of 2024.

Participants in the survey of purchasing managers also indicated that inflationary pressures are increasing. The global input price index rose to 55.6 last month, the highest since the start of 2023. A gauge of prices received climbed to an eight-month high.

The measure of global manufacturing employment contracted for the seventh consecutive month, the longest such stretch since 2020 and a sign producers are able to meet demand with leaner staffing levels.

Still, manufacturing firms around the world are more optimistic about production prospects. The future output gauge rose for a second month — to 62, the highest since May.