PMI Data Of Manufacturing Industry In Several Countries Recovered
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Author : Bozhou Marine
Update time : 2020-08-07 13:31:42
In the first half of the year, the global economy recovered in an orderly manner, and the manufacturing data of most European and American countries improved significantly in July. Under the current economic situation, many central banks have chosen to wait and see at the latest interest rate policy meeting, and the pace of policy easing has temporarily slowed down.
JPMorgan Chase's Global Manufacturing Purchasing Managers Index (PMI) jumped to 50.3 in July from 47.9 in June due to strong manufacturing performance in the euro zone, the United States and China in July, the first time it has returned to the expansion range since January this year. According to the sub data, the index of exports and new orders rose to 51.5 and 50.7 in July from 47.3 and 46.8 in June, respectively, and the business climate rose to a new high in nearly five months.
Oliva borichevska, JP Morgan's vice president of global economy, commented that the economic data showed that the global economy was continuing to recover, and the sub data including export and new order index had returned to the pre epidemic level, but the comprehensive recovery of the economy still needed time.
Strong Rebound In Euro Zone Manufacturing
On August 3, the latest data released by IHS Markit showed that the purchasing managers' index (PMI) of manufacturing industry in the euro zone rose from 47.4 in June to 51.8 in July, better than the 51.1 expected by the market, and it was the first time since the beginning of 2019 to surpass the 50 boom and bust line.
In July, the overall PMI of the euro area was better. Except for Greece and the Netherlands, the PMI of other countries was lower than 50.0.
Spain was the strongest performing country in the eurozone, with its manufacturing PMI rising to 53.5 from 49.0 last month.
As a country equally hit by the epidemic, Italy's manufacturing sector also recorded growth in July, with PMI rising from 47.5 to 51.9, the first increase in the country in nearly two years.
As the European economic leader, Germany's manufacturing PMI rose to 50.0 in July from 45.2 last month, the highest level in the past 19 months.
Williamson, chief economist at IHS Markit, said the euro zone manufacturing data showed a good start to the third quarter, with manufacturing production growing at the fastest rate in more than two years, driven by rising demand. The growth rate of new orders exceeds the output, which means that the output in August should be further increased, and the improvement of the order quantity is conducive to the restoration of enterprise confidence.
U.S. Manufacturing Industry On Track Of Rapid Recovery
The Institute for supply management (ISM) announced this week that the ISM manufacturing PMI for July was 54.20, higher than the market expectation of 53.5, and the previous value was 52.6, which was the highest since March 2019. In addition, the final PMI value of Markit service industry in the United States in July was 50, higher than the expected 49.6, and the initial value was 49.6, which has returned to above the 50 prosperity and decline line since January.
Analysts believe that, according to the PMI index of manufacturing and service industries in the United States, the period in which the epidemic will have the greatest impact on the U.S. economy has passed. Although the economic growth in the third and fourth quarters will still be in recession, it will improve quarter on quarter. If the vaccine is promoted and listed within the year, the economy in the first quarter of next year is expected to turn from negative to positive under the low base effect, and the growth rate in the second quarter will be greatly increased, and the whole year will achieve positive growth.
China's Manufacturing Industry Continues To Develop Strongly
Recently, according to the data released by the service industry survey center of the National Bureau of statistics and the China Fe deration of logistics and purchasing, the PMI of China's manufacturing industry in July was 51.1%, up 0.2 percentage points from the previous month. It was the third consecutive month that the PMI was above the critical point (50%) for five consecutive months. In particular, among the 21 industries surveyed, the PMI of 17 industries was higher than the critical point, 3 more than that of the previous month, and the business scope was expanded. All this shows that the confidence of enterprises is continuously increasing, and also shows that China's economic fundamentals continue to improve and the overall recovery momentum is better.
Japanese Manufacturing Data Improved
According to the data released by IHS Markit, the final seasonally adjusted PMI of Japan's manufacturing industry in July was 45.2, higher than 40.1 in June and the initial value of 42.6, and reached the highest level since February this year.
IHS Markit economist Moore said that the most serious impact of the epidemic on Japan's manufacturing industry has passed. Driven by the lifting of the domestic emergency, as well as signs of the recovery of the auto industry supply chain and the restart of economic activities in important export destinations, the decline of Japanese manufacturing output slowed down, and the data improved in the second quarter.
Singapore's Manufacturing Industry Rebounds
On August 5, IHS Markit released a survey report on 400 Singapore enterprises. According to the survey, Singapore's overall economic PMI rose to 45.6 in July, the highest in five months. IHS Markit said the decline in new orders slowed, supported by export sales, and output expanded slightly for the first time since January.
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