By continuing to browse our site you agree to our use of cookies, revised Privacy Policy and Terms of Use. You can change your cookie settings through your browser.
I agree
Search Trends
SITEMAP
Copyright © 2024 CGTN. 京ICP备20000184号
Disinformation report hotline: 010-85061466
SITEMAP
Copyright © 2024 CGTN. 京ICP备20000184号
Disinformation report hotline: 010-85061466
A worker operating equipment in a factory, Jiangsu Province, China, July 18, 2024. /CFP
The global manufacturing Purchasing Managers' Index (PMI) remained stable in August at 48.9, unchanged from July, according to latest data from the China Federation of Logistics & Purchasing (CFLP) on Friday.
The reading indicates that world manufacturing activities have stayed in the contraction zone for five consecutive months.
By region, the manufacturing PMI for Asia stood at 50.6, down from 50.8 in the previous month, but still above 50 for the eighth consecutive month. This suggests that the region's recovery remains relatively stable.
In Europe and the Americas, the data showed slight increases compared to the previous month. However, the figures for both regions stayed below 50, indicating continued weak performance.
A battery production factory in Norway, Aug 16, 2024. /CFP
Africa's manufacturing PMI came in at 48.4, dropping back below 50. This also reflects a weakened recovery in the regions's manufacturing sector.
The data suggests that the global economy continues to exhibit weak momentum, with persistent downward pressure on growth, noted CFLP experts. Geopolitical conflicts, high interest rates, and insufficient policy stimulus are major factors hindering economic recovery worldwide.