Uptick in Global Manufacturing PMI May Be Short-Lived, Chinese Logistics Group Warns
Dou Shicong
/SOURCE : yicai
Uptick in Global Manufacturing PMI May Be Short-Lived, Chinese Logistics Group Warns

(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 

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Keywords: CFLP , Manufacturing PMI