November Global Manufacturing Purchasing Managers Index 49% Downward Trend Eased

Recently, the data released by China Federation of logistics and purchasing showed that in November, the Global Manufacturing Purchasing Managers Index (PMI) was 49%, an increase of 0.2 percentage points from the previous month, and a slight rebound in the 2 consecutive months, indicating that the global manufacturing downturn has eased.

He Hui, director of China Logistics Information Center: under the adjustment of counter cyclical policies of China and other countries, the global manufacturing PMI has rebounded to a certain extent.

Data show: in November, the Asian Manufacturing Purchasing Managers Index rose 0.6 percentage points from last month, reaching the critical value (49.9%). Among the major countries, the purchasing managers' indices of manufacturing industry in China, Japan, India and Korea have picked up in varying degrees. In particular, China's Manufacturing Purchasing Managers' index rose to 50.2%, becoming the core reason for boosting the global manufacturing industry's stability. Insiders said that economic growth in Asia is still an important engine to support global economic development, and some countries have increased investment in infrastructure construction, to a certain extent, to hedge against the downward pressure on the global economy.

It is worth mentioning that in November, the European Manufacturing Purchasing Managers' index and the American Manufacturing Purchasing Managers' index remained relatively low, partly inhibiting the global manufacturing industry's stabilization. In November, the European manufacturing PMI was 47.9%; the American manufacturing PMI was 48.7%. In particular, the US Manufacturing Purchasing Managers Index has dropped to 48.1%, running below 50% for 4 consecutive months, and the trend of continuous weakening of manufacturing industry is hard to change in the short term.