September broke the pattern of the past two years. The global Manufacturing PMI hit a 55-month high, every eurozone country expanded for the first time since 2022, and the US jumped to 55.9. Output and orders are being driven by AI infrastructure and defence equipment. The catch is on the cost side…
The Backlog Buffet – Factories Feast on Old Orders While the Memory Bill Arrives
Industrial output stays uneven: China prints 6.3% YoY while Europe slips to -1.2%. Manufacturing Sentiments remain expansionary (US 52.3, EU 51.6) but are increasingly flattered by delivery delays and war-linked logistics frictions. Revenue signals confirm a bifurcation: high-growth Asian MV suppliers keep investing, while Western players hover in low single digits. Implication: machine vision demand persists, but projects skew toward fast-payback productivity and resilience.