China Net Finance, April 6, according to the website of the China Federation of Logistics and Purchasing, the global manufacturing PMI in March 2021 was 57.8%, an increase of 2.2 percentage points from the previous month, and remained above 50% for 9 consecutive months, for the second consecutive year. The month-on-month increase. In terms of subregions, the growth rate of manufacturing in all states has accelerated compared with the previous month. The manufacturing PMI of Asia and Africa increased slightly, and the manufacturing PMI of Europe and the Americas rose more significantly than last month. The overall index changes, the growth rate of the global manufacturing industry continues to accelerate compared with the previous month, and the recovery of the global economy is further strengthened.


(Source: Website of China Federation of Logistics and Purchasing)

The acceleration of global manufacturing growth has driven the market's expectations for the global economy to increase. In its latest economic outlook report, the OECD predicted that the economy will grow by 5.6% for the whole year of 2021, which is 1.4 percentage points higher than the forecast in December last year. The reason for the accelerated growth of the manufacturing industry is that countries around the world continue to actively promote vaccines, which has boosted market confidence. Second, the continued expansionary fiscal policies and loose monetary policies of major developed economies stimulated the growth of manufacturing demand, which in turn drove the increase in manufacturing product prices, and provided impetus to corporate production. The third is the recovery of international trade, especially the increase in trade in goods, which has increased market liquidity, improved the supply chain environment, provided important support for the growth of the manufacturing industry, and promoted the benign interaction of the global economy. The IMF predicts that global trade will increase by 8.1% in 2021.

However, it should also be noted that there are still some uncertainties in the current economic recovery process: First, the impact of the rebound of the epidemic on the global economy. On March 22, the World Health Organization stated that the number of new cases worldwide has risen for five consecutive weeks; It is the short-term impact of the blockage of the Suez Canal on global maritime logistics, which may lead to increased global trade costs, production interruptions in some enterprises, and rising prices; third, the increase in global inflationary pressure brought about by the loose monetary policies of various countries may affect developing countries Cause certain negative effects and bring hidden dangers to the global economic recovery.


Manufacturing PMI of major countries in the world in March 2021 (Source: Website of China Federation of Logistics and Purchasing)

Article information source-China Net Finance



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