The global manufacturing sector remains in the red, with the Purchasing Managers' Index (PMI) holding steady at 48.9 in August, according to the China Federation of Logistics & Purchasing (CFLP). This marks five consecutive months of contraction, underscoring ongoing challenges in the sector.
Regionally, Asia shows a glimmer of stability. The Asia Manufacturing PMI edged slightly down to 50.6 from July's 50.8, yet it remains above the critical 50 threshold for the eighth consecutive month. This suggests that the region's manufacturing recovery is maintaining a steady pace despite global headwinds.
In contrast, Europe and the Americas experienced marginal improvements in their manufacturing PMIs compared to the previous month. However, both regions' indices still languish below the 50 mark, indicating continued weak performance and ongoing contraction.
Experts highlight that the sustained contraction may reflect lingering supply chain disruptions, fluctuating demand, and other economic uncertainties affecting the global manufacturing landscape.
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Global manufacturing PMI contracts for five consecutive months
cgtn.com
