Released the global manufacturing purchasing managers index in August. Index changes show that the global manufacturing purchasing managers' index rebounded in August from the previous month, but is still at a low level, and the global economy is in a weak recovery trend.
The global manufacturing purchasing managers index in August was 48.3%, an increase of 0.4 percentage points from the previous month. It has increased month-on-month for two consecutive months, but the index is still at a low level of around 48%. The global economy is in a weak recovery trend. Overall The tightening environment has not changed, and the pressure to shrink demand still exists.
Xu Hongcai, deputy director of the Economic Policy Committee of the China Policy Science Research Society: The month-on-month increase for two consecutive months shows that the global manufacturing industry is beginning to recover, but the overall upward momentum is still weak, and development in various regions is not balanced. Overall Insufficient momentum and weak demand are the current prominent contradictions. Especially in the context of the reshaping of the global supply chain and the increasingly complex competition between major powers, the future promotion of world trade, investment, and the sustainable development of manufacturing depends on deepening cooperation and further opening up.
The global trade in goods sentiment index recently released by the World Trade Organization was 99.1, an increase from the 95.6 announced in May, indicating that global trade activities have recovered.
Judging from the trend of new export orders in various countries, the new export order indexes of major countries such as China, the United States, the European Union, and Japan all remained at a low level in August.
From the perspective of the trade environment, trade frictions still occur from time to time, geopolitical risks still exist, there are still many uncertainties such as inflation pressure, financial market risks, and debt risks, and the global economy will continue to maintain a low growth trend.
Asia continues to grow steadily and the Americas recover from weakness
Looking at different regions, the manufacturing purchasing managers’ index in Asia continues its upward trend, the manufacturing purchasing managers’ index in the Americas and Africa is still below 50%, and the European manufacturing purchasing managers’ index continues its weak downward trend.
In August, the Asian manufacturing purchasing managers index was 50.7%, an increase of 0.2 percentage points from the previous month, and a month-on-month increase for 2 consecutive months, showing that the Asian manufacturing industry continues to grow steadily. From the perspective of major countries, China's manufacturing purchasing managers' index has risen for three consecutive months, and the upward momentum has been further consolidated. China's manufacturing industry has shown a sustained and stable recovery trend, providing important support for the steady growth of Asia's manufacturing industry.
Wang Jingwen, director of the Macro Research Center of China Minsheng Banking Research Institute: China has been the most important source of global growth over the years. The recovery of China's economy will also help drive the global economy, especially neighboring economies. Second, we continue to expand opening up, including the recent Service Trade Fair and the 24 Articles of Foreign Investment, which continue to open the door to foreign investment and have a certain driving effect on global imports.
In addition, the European manufacturing industry continues to operate weakly. In August, the European manufacturing purchasing managers index was 44.7%, which was below 50% for 13 consecutive months. The Americas manufacturing purchasing managers' index in August was 47.9%, an increase of 0.9 percentage points from the previous month, running below 50% for 10 consecutive months. Data from major countries show that the U.S. manufacturing industry shows signs of weak recovery, and manufacturing production activities have recovered, but the demand side has not seen a significant improvement.
In August, the African manufacturing purchasing managers index was 49.4%, an increase of 0.3 percentage points from the previous month, ending the two consecutive months of decline, but still below 50%, indicating that the decline in the African manufacturing industry has slowed down.
Xu Hongcai, deputy director of the Economic Policy Committee of the China Policy Science Research Society: In recent days, the Beijing Service Trade Fair has also released a very positive signal. In the future, we can deepen cooperation in the service industry to contribute to the development of the manufacturing industry and the economy. Inject new momentum, promote mutually beneficial and inclusive development, and inject new impetus and vitality into the world economy.
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