The China Federation of Logistics and Purchasing announced on March 6 that the global manufacturing PMI (CFLP-GPMI) fell by 0.8 percentage points from the previous month and remained at a high level of 55.2%. According to the analysis, in the first quarter, the global manufacturing PMI averaged 55.7%, up 1.6 percentage points year-on-year. Combined with the change in the index, global manufacturing will continue the recovery trend since last year in 2018.
The index shows that in March, Asian manufacturing growth was stable, PMI rebounded slightly; European manufacturing maintained rapid growth and growth slowed; manufacturing growth in the Americas slowed, and the trend of sustained recovery remained unchanged; The speed is accelerating, the index is rising significantly; the African manufacturing industry still maintains moderate growth, and the index has a correction.
The China Federation of Logistics and Purchasing Experts Group said that in March, the Asian manufacturing PMI was 51.7%, up 0.1 percentage points from the previous month and remained stable at over 51%. The average manufacturing PMI for Asian manufacturing in the first quarter was 52.0%, up 0.2 percentage points year-on-year. Most emerging manufacturing industries in Asia maintain a modest growth trend. In the Asian regions where the developing countries are concentrated, all major countries and regions have great development potential. Promoting endogenous growth through deepening reform is the sustained driving force for the overall moderate growth of the Asian economy.
In March, the improvement of China's manufacturing activities led to the stabilization of Asian manufacturing. In March, China's manufacturing purchasing managers' index (PMI) was 51.5%, up 1.2 percentage points from the previous month, and returned to the normal level of 51% in recent years. In the first quarter of this year, China's economy continued to develop steadily and steadily. While economic growth remains stable, the inherent quality of economic development has improved. Mainly reflected in the relatively balanced growth of supply and demand, good employment, and balanced development of import and export trade. The economic situation in the first quarter started well, laying a good foundation for the later trend and becoming an important guarantee for the stable development of the Asian economy.
The analysis pointed out that in March, the European manufacturing PMI fell to 55.7%, a decrease of 1.8 percentage points, and fell for three consecutive months.
In March, the manufacturing PMI of the Americas was 58.3%, down 1.1 percentage points from the previous month. The high retreat in the US manufacturing PMI is the main reason for the slowdown in manufacturing growth in the Americas this month. In the first quarter, the average manufacturing PMI in the Americas reached 58.6%, up 2.9 percentage points year-on-year.
In March, the Australian manufacturing PMI was 63.1%, up 5.6 percentage points from the previous month. In the first quarter, the average manufacturing PMI in Australia was 59.8%, up 3.8 percentage points year-on-year.
In March, the African manufacturing PMI was 51.7%, down 0.8 percentage points from the previous month. In the first quarter, the average manufacturing PMI in Africa was 52.3%, up 4.4 percentage points year-on-year.
Experts predict that the global economy will maintain a steady recovery trend in the second quarter.
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