The global manufacturing PMI was 57.1 per cent, ending two consecutive rises

The global manufacturing PMI fell 0.7 percentage point to 57.1% in April, the China Federation of Logistics and Purchasing (CFLP) said Friday, ending a two-month rising trend.

As for the composite index, the global manufacturing PMI has fallen slightly compared with last month, but the index has remained above 50% for 10 consecutive months, and has been above 57% in the last two months, which is a high level in recent years. This shows that the global manufacturing industry has slowed down, but the basic trend of steady recovery has not changed.

In April, the IMF forecast global economic growth of 6 percent in 2021 and 4.4 percent in 2022, up 0.5 and 0.2 percentage points from its January forecast, the China Federation of Logistics and Purchasing said. The promotion of vaccines and the continuous advancement of economic recovery policies are important references for the IMF to upgrade its economic growth forecast.

However, it should be noted that there are still uncertainties in the recovery of the global economy. The recurrence of the epidemic remains the biggest factor affecting the recovery. Effective control of the epidemic remains a prerequisite for sustained and steady recovery of the global economy. At the same time, the risks of inflation and rising debt caused by the continuous loose monetary policy and expansionary fiscal policy are also accumulating, becoming two hidden dangers in the process of global economic recovery.

Post time: Jun-30-2021