In January, the global manufacturing PMI rebounded from a low level and the downward trend of the global economy has eased – Xinhua English.news.cn

The China Federation of Logistics and Purchasing announced today (February 6) the global manufacturing purchasing managers index for January. The index ended seven consecutive months of month-on-month decline and rebounded from the previous month. Experts said that the accelerated recovery of China’s manufacturing industry has contributed the main force to the global economic recovery.

In January, the global manufacturing purchasing managers index was 49.2%, an increase of 0.6 percentage points from the previous month, ending the 7 consecutive months of month-on-month decline. The global manufacturing Purchasing Managers Index ended its continuous decline and rose from the previous month, which means that the global economy’s continued downward trend since the second half of 2022 has eased.

Xu Hongcai, deputy director of the Economic Policy Committee of the China Policy Science Research Association: mainly benefited from the strong recovery of the Chinese economy. In January, China’s manufacturing PMI was 50.1%, an increase of 3.1 percentage points month-on-month, which has become the main driving force to prevent the global economic downturn. In the latest World Economic Outlook report of the International Monetary Fund, the (expected) growth rate of the world economy in 2023 was raised by 0.2 percentage points to 2.9%.

In terms of regions, the American manufacturing purchasing managers index in January was below 50% and continued to decline; the European manufacturing purchasing managers index rose from the previous month, but was still below 50%; the Asian manufacturing purchasing managers index rose to More than 50%; the African Manufacturing Purchasing Managers Index has declined from the previous month and is still around 51%.

Experts said that the global manufacturing purchasing managers’ index is still below 50%, indicating that the stabilization of the global economy still needs to be strengthened. At the same time, we must also see that the uncertain impact of the new crown virus epidemic on the global economy still exists, and the problem of insufficient demand is still a common problem faced by countries around the world. The constant balance between easing inflation and promoting economic recovery is still a dilemma faced by many countries.

Xu Hongcai, deputy director of the Economic Policy Committee of the China Policy Science Research Association: The global manufacturing purchasing managers index in January ended the downward trend for seven consecutive months. This is good news, a turning point, and a positive signal, but the upward momentum in the future Whether it can be maintained remains to be seen, and the road to economic recovery in the future will not be smooth.

Experts emphasized that only when countries around the world seek common ground while reserving differences, continue to increase economic and trade cooperation, and continuously enhance the resilience of economic recovery, can the global economy return to the track of steady recovery. (CCTV reporter Wang Shantao)