PMI data shows global manufacturing recovery
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September 29 12:01:21, 2024
Foreign media reported on February 1 that according to a survey of purchasing managers in 30 countries, at the beginning of the new year, some of the world's major manufacturing countries have begun to recover. The British "Financial Times" reported that Chris Williamson, chief economist of Markit Economics, who conducted the survey with JP Morgan Chase, said: "Today (31st) data shows that the global economy is much more than in 2012. People who are worried at the beginning of the year are expected to be much better.†The survey’s index rose from 50.2 in December last year to 51.2 in January. When the index is above 50, it indicates that the manufacturing industry is expanding. The growth rate of the US manufacturing sector has reached its highest level since June last year. Bradley Holcomb, chairman of the Institute for Supply Management, said: "At the beginning of the new year, the manufacturing industry performed well, and new orders, output and employment increased in January." With the decision of the Central Bank of India to stop radicalism in December last year. The monetary tightening policy, India's factory output growth reached an all-time high in January. However, some analysts warn that this strong data does not reflect the overall state of the Indian economy. China's PMI has only increased slightly, reaching 50.5. The Eurozone index is still below 50, indicating that manufacturing production has deteriorated for the sixth consecutive month. The report pointed out that the data of the Eurozone also indicates that the gap between the 17 member states in the region is growing. Germany's PMI has reached 51, but the Greek index has fallen to 41. At the EU summit on January 29, 25 members of the 27 member states agreed to adopt a new strict fiscal policy, which led to a debate about whether austerity policies are stifling economic recovery.