China Federation of Logistics and Purchasing released February global manufacturing purchasing managers index. Index for 2 consecutive months over 49% global economic recovery trend stable From the index changes, the first two months of this year, the global manufacturing recovery is relatively stable, but still maintained a low growth pattern. In February, the global manufacturing purchasing managers' index was 49.1%, down 0.2 percentage points from the previous month, stable at more than 49% for two consecutive months, higher than the average level of 47.9% in the fourth quarter of last year. CAI Jin, Vice president of the China Federation of Logistics and Purchasing: From the perspective of the global manufacturing index, it is relatively stable, but it also reflects some uncertain factors or more, the entire global economic operation is generally speaking, or relatively weak. Experts said that the global economy still maintains low growth, mainly because geopolitical conflicts continue to interfere with the global industrial chain and supply chain, resulting in global trade to a certain extent. In addition, the impact of trade frictions on the global economy continues. The world's major institutions generally expect global economic growth to remain at around 3% in 2024.
Experts suggest that countries in the world should strengthen cooperation to strengthen the resilience of global industrial and supply chains, jointly enhance the internal driving force of global economic growth, and promote a sound recovery of the global economy. Xu Hongcai, Deputy Director of the Economic Policy Committee of the Chinese Society of Policy Science: Traditional trade and investment and other economic activities are gradually revitalizing and returning to positive growth. Countries should follow the trend, expand economic and trade cooperation and open up wider. At the same time, we should combine short-term counter-cyclical adjustment policies with medium - and long-term structural upgrading and reform policies and innovative policies to foster new driving forces for economic growth and promote a steady recovery of the global manufacturing industry and economy. Asia's manufacturing industry maintains expansion Africa Europe America is below 50% Sub-region, Asia's manufacturing purchasing managers index remains above 50%, Africa, Europe, the Americas manufacturing purchasing managers index is below 50%. In February, the Asian manufacturing purchasing managers' index was 50.3%, remaining above 50% for two consecutive months, and the Asian manufacturing industry maintained a steady growth trend. The trend in the Asian manufacturing purchasing managers Index shows that the stability of the Asian manufacturing sector is still better than that of Europe, the Americas and Africa. Experts said that the continuous advancement of the Regional Comprehensive Economic Partnership (RCEP) is conducive to enhancing the degree of economic integration in Asia and promoting economic stability in Asia. The stable recovery of the Chinese and Indian economies is still an important force to promote the stability of the Asian economy, especially China's support for the Asian and even the world economy is still very obvious.
CAI Jin, Vice President of China Federation of Logistics and Purchasing: It should be said that in the operation of the global economy, Asia is still performing well, and the purchasing manager's index is above 50%. The development of the Asian economy has played a very good driving role for the global economy as a whole, and has vigorously promoted the recovery and development of the global economy. The African manufacturing purchasing Managers' Index for February was 49.8%, up 0.8 percentage points from the previous month, indicating that the growth rate of African manufacturing has accelerated from the previous month. In terms of major countries, South Africa's manufacturing sector recovered significantly from the previous month, with the manufacturing purchasing managers' index rising to more than 51%. In February, the European manufacturing purchasing managers' index was 48%, up 0.8 percentage points from the previous month, and it has risen for two consecutive months, showing that the European manufacturing industry is still at a low level, but showing signs of continued recovery. From the perspective of major countries, the UK, France, Italy and Spain manufacturing purchasing managers index have achieved two consecutive months of month-on-month increase, and the German manufacturing purchasing managers index has declined significantly from the previous month. In February, the Americas manufacturing purchasing managers' index was 48.6%, down 1 percentage point from the previous month, ending two consecutive months of rising trend, and the recovery of the American manufacturing industry has weakened. Data from major countries showed that the US manufacturing purchasing managers index was 47.8%, down 1.3 percentage points from the previous month, and the recovery of the US manufacturing industry has weakened.
