(Yicai Global) Feb. 13 -- Manufacturing sectors around the globe have started the year a tad stronger but it may not be enough to spur future tailwinds, according to a Chinese logistics association.
In January, the Global Manufacturing Purchasing Managers' Index, an indicator of selected surveyed firms' business confidence, rebounded 0.3 points from the previous month to a reading of 52.4, according to data released by the Federation of Logistics and Purchasing. The 50 point mark separates expansion from contraction.
It is largely possible that the global economic growth will continue to slow down, the CFLP said. The result has been below 53 for two consecutive months, which is lower than last year's average of 54.5.
The US manufacturing PMI rose 2.1 points to 55.8 last month, according to the CFLP. China's manufacturing PMI also recovered slightly to 49.5 percent in January, partly thanks to large enterprises and the vitality of the high tech sector.
The manufacturing PMI of European countries fell 0.8 point to 51, hitting the lowest within two recent years, the CFLP data suggests. Individual European countries logged varying degrees of reductions in the index while Germany slid below 50 percent for the first time in four years.
The levels of foreign direct investment also declined in Europe and North America, according to the CFLP. However, developing economies in East Asia and Southeast Asia maintained an upward trend in attracting overseas capital investment.
Editor: Emmi Laine