In August, the global manufacturing purchasing managers' index was 48.3%, with two consecutive month on month increases

The China Federation of Logistics and Purchasing announced today the Global Manufacturing Purchasing Managers Index for August. The changes in the index indicate that the global manufacturing purchasing managers index has rebounded in August compared to the previous month, but it is still at a relatively low level, and the global economy is showing a weak recovery trend.

In August, the global manufacturing procurement manager index was 48.3%, an increase of 0.4 percentage points from the previous month, marking the second consecutive month on month increase. However, the index remains at a low level of around 48%, indicating a weak recovery trend in the global economy. The overall tightening environment has not changed, and demand contraction pressure still exists.

Xu Hongcai, Deputy Director of the Economic Policy Committee of the China Policy Science Research Association: The consecutive two months of month on month increase indicates that the global manufacturing industry is starting to recover, but the overall upward momentum is still weak, and development in various regions is not balanced. The overall momentum is insufficient, and weak demand is a prominent contradiction at present. Especially in the context of the reshaping of global supply chains and the increasingly complex game of major powers, promoting the sustainable development of world trade, investment, and manufacturing in the future also depends on deepening cooperation and further expanding openness.

The World Trade Organization recently released a global goods trade prosperity index of 99.1, an increase from May's 95.6, indicating a recovery in global trade activity.

From the trend of new export orders in various countries, the index of new export orders in major countries such as China, the United States, the European Union, and Japan remained at a relatively low level in August.

From the perspective of trade environment, trade frictions still occur from time to time, geopolitical risks still exist, and there are still many uncertain factors such as inflation pressure, financial market risks, and debt risks. The global economy will continue to maintain a low growth trend.

Asia continues to maintain stable growth, and the weak recovery in the Americas

From a regional perspective, the Purchasing Managers Index for manufacturing in Asia continues to rise, while the Purchasing Managers Index for manufacturing in the Americas and Africa remains below 50%. The Purchasing Managers Index for manufacturing in Europe continues to show a weak downward trend.

In August, the Purchasing Managers Index for Asian manufacturing was 50.7%, an increase of 0.2 percentage points from the previous month, marking the second consecutive month on month increase, indicating that the Asian manufacturing industry continues to maintain a stable growth trend. From the perspective of major countries, the Purchasing Managers Index of China's manufacturing industry has been rising for three consecutive months, further consolidating its upward momentum. China's manufacturing industry is showing a sustained and stable recovery trend, providing important support for the stable growth of Asian manufacturing industry.

Wang Jingwen, Director of the Macro Research Center of China Minsheng Bank Research Institute: China has been the main source of global growth in recent years. The recovery of the Chinese economy is also conducive to driving the global economy, especially neighboring economies. Secondly, we are constantly expanding our opening up, including the recent China International Fair for Trade in Services and the 24 regulations on foreign investment, which continue to open our doors to foreign investment and have a certain driving effect on global imports.

In addition, the European manufacturing industry continues to operate weakly, with a Purchasing Managers Index of 44.7% in August, which remained below 50% for 13 consecutive months. In August, the Purchasing Managers Index for the manufacturing industry in the Americas was 47.9%, an increase of 0.9 percentage points from the previous month, and has been operating below 50% for 10 consecutive months. Major country data shows that the US manufacturing industry is showing signs of weak recovery, with some recovery in manufacturing production activity, but there has been no significant improvement in demand.

In August, the Purchasing Managers Index for African manufacturing 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 African manufacturing has slowed down.

Xu Hongcai, Deputy Director of the Economic Policy Committee of the China Policy Science Research Association: 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, inject new momentum into manufacturing and economic development, promote mutually beneficial and inclusive development, and inject new impetus and vitality into the world economy.