Global Manufacturing PMI Continued To Fall In May, Points To Downturn In Global Economy

Published: Jun 8, 2023 16:59

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The China Federation of Logistics and Purchasing announced on June 6 that the global manufacturing purchasing managers' index for May continued to fall month-on-month, falling to a new low since June 2020 in May, as the global economy continued to move downward.

The manufacturing trends of major countries in Asia and Africa were relatively stable, which were the main force for stabilising the manufacturing industries.

In May, the global manufacturing PMI was 48.3%, a decrease of 0.3 percentage point from the previous month, the lowest since June 2020. The index fell for three consecutive months and remained below 50% for eight straight months.

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