Global Manufacturing PMI in April Points to Greater Downward Pressure on Global Economy

Published: May 19, 2023 17:33

Save

The China Federation of Logistics and Purchasing announced on May 6 released the global manufacturing purchasing managers' index for April.

The index has declined for two consecutive months, and has been running below 50% for seven consecutive months, indicating that the downward pressure on the global economy has increased and the momentum of economic recovery is weak.

In March, the global manufacturing purchasing managers' index was 48.6%, a decrease of 0.5 percentage point from the previous month, the lowest since June 2020.

Since the beginning of this year, although the global economy has recovered somewhat, the trend of weak growth has not changed, and the problem of high inflation has been plagued by the global economic recovery.

More popular news:

'Bond King' Jeffrey Gundlach Says Sharp Fed Rate Cuts By Year-End Will Push Up Gold Prices

US Treasury Bill Rates Soar to Record High on Debt Ceiling Jitters

Russia is Accelerating Technology to Become Top Liquefied Natural Gas Supplier by Tripling Exports By 2030

Rio Tinto Warns of Risks for Paying High Premiums for Lithium Mines after Plunging Lithium Prices Triggered Acquisition Rush

SMM Daily Comments (May 5): LME Base Metals Rose across the Board, SHFE Nickel Plunged

IMF Slashes Saudi Arabia GDP Growth 2023-2024, Saying the Country Can’t Achieve Budget Balance This Year unless International Oil Prices Surge to $81 per Barrel

JPMorgan Asset Management: US Treasury Bonds will Strengthen

JPMorgan: How to Invest Amid a Likely Recession? Investors are Turning to Gold and Tech Stocks

A Bull Gold Market Has Just Begun

Macro economy

Data Source Statement: Except for publicly available information, all other data are processed by SMM based on publicly available information, market communication, and relying on SMM's internal database model. They are for reference only and do not constitute decision-making recommendations.

For any inquiries or for more information, please contact: lemonzhao@smm.cn

For more information on how to access our research reports, please contact:service.en@smm.cn

Related News

2 hours ago

As the final trading day approaches, Shanghai spot copper premiums remain strong [SMM Shanghai spot copper]

[SMM Shanghai Spot Copper] Looking ahead to tomorrow, next Monday marks the last trading day for the SHFE copper 2606 contract. According to SMM's #1 copper cathode price assessment methodology, SMM always quotes against the front-month contract. During the day, the center of copper prices moved up, and downstream procurement sentiment pulled back slightly, indicating that high prices somewhat curbed demand. Approaching delivery, suppliers showed a relatively strong willingness to deliver their open interest, keeping available cargo tight. In addition, spot inventory in the Guangdong region remained at a low level, with offers at a premium of around 200 yuan/mt, which may lend some support to premiums in the Shanghai region. Overall, premiums for Shanghai spot copper against the SHFE 2606 copper contract next Monday are expected to remain at a premium level.

2 hours ago

Data: SHFE, DCE market movement (Jun 12)

The following table shows the ferrous and nonferrous metals movement on the SHFE and DCE on 12 Jun , 2026

2 hours ago

Geopolitical Cooling Meets Sticky Inflation, Copper Prices Swing Wildly at Highs [SMM Macro Weekly Review]

2 hours ago