Global manufacturing PMI fell back to 56.3 percent in July as global economic recovery slows

Release time:

2021-09-08

Global manufacturing PMI fell back to 56.3 percent in July as global economic recovery slows

The global manufacturing purchasing managers' index (PMI) was 56.3 percent in July 2021, down 0.5 percentage points from the previous month, according to data released by the China Federation of Logistics and Purchasing on the 6th. The analysis believes that the global economy still maintains the recovery trend, but there is a sustained slowdown.

Subregionally, in July, the manufacturing PMI in the Americas fell 0.8 percentage points from the previous month to 58.6 percent, a slight decline for the second consecutive month, indicating that the growth rate of the manufacturing industry in the Americas continued the slowdown last month, but the recovery trend is still relatively stable. Among the major countries, the manufacturing PMI of the United States and Canada both showed a slight decline in a row, while the manufacturing PMI of Brazil and Mexico increased to varying degrees from the previous month.

In July, the European manufacturing PMI fell 0.7 percentage points from the previous month to 60.7 percent, a slight decline for the second consecutive month. It shows that the European manufacturing industry as a whole has maintained a rapid recovery trend, but the growth rate has slowed for two consecutive months.

According to the analysis, the global manufacturing PMI remained above 56%, and the global economy still maintained a recovery trend, but the index fell for two consecutive months, indicating that the global economic recovery continued to slow down. The spread of the mutated new coronavirus has made the road to global economic recovery increasingly complex. The trend of global economic recovery has not changed significantly, but the uncertain impact of the epidemic and the negative impact of long-term easing policies may affect the economic recovery process at any time.

According to the analysis, in the face of the uncertainty brought about by the epidemic, cooperation in the fight against the epidemic and win-win cooperation is an important guarantee for the stable recovery of the world economy, which has become an increasingly broad consensus of the international community. The extent of national vaccination, the strength of epidemic prevention policies and the effectiveness of supportive policies have influenced the extent of national economic recovery. It is expected that the global economy will maintain the recovery trend in the second half of the year, but the growth rate may slow down.

(Source: China News Network)