Varying manufacturing recovery casts shadow on global growth

The recovery of global manufacturing in the past month has given a boost to global economic growth expectations, but under the influence of declining growth momentum and high inflation, the recovery of global manufacturing has been varying in different regions.

China and other emerging markets and developing economies have displayed remarkable resilience in the development of their manufacturing industries in the face of complex and severe situations. Statistics from the China Federation of Logistics and Purchasing show that Asia's manufacturing purchasing managers' index rose above 50 percent again in January, and China's manufacturing PMI in particular rose 0.2 percentage points in January from the previous month.

Compared with the previous month, members of the Association of Southeast Asian Nations, except the Philippines, saw their manufacturing PMI rising to varying degrees in January. Brazil and Mexico, too, saw a significant rise. Although the manufacturing industry in Africa has declined, the index level has stayed at around 49 percent for two consecutive months, and many countries have introduced economic reforms to promote diversified development and improve economic resilience, contributing to their steady economic recovery.