The global economy continues to fluctuate and decline, with the Global Manufacturing Purchasing Managers Index continuing to decline in May | Manufacturing | Global
The China Federation of Logistics and Purchasing announced today the Global Manufacturing Purchasing Managers Index for May. The index has been continuously declining month on month recently, falling to a new low since June 2020 in May, and the global economy continues to fluctuate and decline. From the perspective of trends in various regions, the manufacturing industries of major countries in Asia and Africa have remained relatively stable, becoming the main driving force for stable manufacturing operations.
In May, the global manufacturing purchasing managers index was 48.3%, a decrease of 0.3 percentage points from the previous month. It has been declining month on month for three consecutive months and has been below 50% for eight consecutive months, marking a new low since June 2020.
From a regional perspective, the Purchasing Managers Index for Asian manufacturing is still above 50%; The African Manufacturing Purchasing Managers Index has slightly increased compared to the previous month, with the index located near the 50% critical point; The Purchasing Managers Index for manufacturing in Europe and the Americas has slightly decreased compared to the previous month, and both continue to operate below 50%.
From the perspective of regional trends, the manufacturing industry in major European and American countries is weakening, leading to a fluctuating downward trend in the global manufacturing industry; The relatively stable manufacturing trends in major countries in Asia and Africa have become the main driving force for stable manufacturing operations.
Furthermore, from market expectations and inflationary pressures, there are certain positive factors in the current economic operation. The United Nations Department of Economic and Social Affairs recently released the "2023 World Economic Situation and Outlook" report, which raised the expected global economic growth for 2023 from the 1.9% forecast at the beginning of the year to 2.3%. The World Trade Organization recently released a report stating that although global trade remained sluggish in the first quarter of this year, this trend is expected to improve in the second quarter.
