The Global Manufacturing Purchasing Managers' Index (PMI) held steady at 49.7 percent in October, data showed on Thursday. The latest reading, remaining within the 49–50 percent range for the eighth consecutive month, reflects a continued slow recovery in the global economy, the China Federation of Logistics and Purchasing (CFLP) said.
In the January to October period, the global manufacturing PMI averaged 49.6 percent, up 0.3 percentage points compared with the same period of last year, but still below the corresponding period in 2019.
By region, Asia and Africa saw slight declines from September in their manufacturing PMIs, though both remained above 50 percent. Europe's PMI edged up but stayed below the 50 percent mark, while the Americas recorded a minor decrease, remaining under 49 percent.
Overall, the global manufacturing PMI has stayed within a relatively stable range, with recovery momentum holding steady. While this year's rebound has been slightly stronger than the same period of last year, the PMI remains below pre-pandemic levels, indicating a continued but gradual recovery in the global economy.
Experts said that ongoing geopolitical tensions, trade frictions, and other uncertainties have continued to pose challenges to global economic stability. While the world economy has remained relatively stable, momentum for faster growth is limited.
They stressed that globalization is an unstoppable trend, and that expanding and deepening economic cooperation remains a shared goal among countries seeking stronger growth.
Global Manufacturing PMI steady in October: data
