Global Manufacturing PMI in March Fell 0.8 Point, Implying a Lack of Momentum in Global Economic Recovery

SHANGHAI, Apr 11 (SMM) - The China Federation of Logistics and Purchasing released on April 6 the global manufacturing purchasing managers' index for March.  In March, the global manufacturing purchasing managers' index was 49.1, a decrease of 0.8 point from the previous month. It marked the sixth month that the index has been in the contraction zone. In the first quarter of 2023, the average global manufacturing purchasing managers index stood at 49.4, an increase of 0.5 point from the fourth quarter of 2022, indicating that the recovery of the global manufacturing industry was slightly better. But the index was still in the contraction range and the recovery of global economy still lacked support.