Asian manufacturing PMI was 50.8% in September, and the trend continued to stabilize

　　China News Service, October 6th, question: Asian manufacturing PMI was 50.8% in September, and the trend continued to stabilize

　　China-Singapore Finance reporter Ruan Yulin

　　According to data released by the China Federation of Logistics and Purchasing on the 6th, in September 2022, the Asian manufacturing PMI was 50.8%, a slight increase of 0.1 percentage points from the previous month, and the index remained stable at around 50.7% for three consecutive months.

Changes in comprehensive data show that the trend of Asian manufacturing continues to stabilize.

　　From the perspective of major countries, the manufacturing PMIs of China, Thailand, Indonesia and the Philippines increased to varying degrees from the previous month, and the manufacturing PMIs of Japan, South Korea, and India all showed a downward trend for two consecutive months.

Changes in comprehensive data show that the Asian manufacturing industry continued to stabilize, with the index stable at around 50.7% for three consecutive months.

The steady improvement of China's manufacturing industry has stabilized the overall growth of Asia's manufacturing industry.

Judging from the average changes in the first three quarters, the Asian manufacturing industry has been relatively stable since the beginning of this year.

The average value of manufacturing PMI in the first, second and third quarters was 51.6%, 51% and 50.7% respectively. Although the average value of the index decreased, the quarterly fluctuation range was within 0.5 percentage points.

　　According to the analysis, in view of the overall downward pressure on the global economy, ADB also recently lowered its growth forecast for developing Asian economies in 2022 from 5.2% in April to 4.3%, but this growth rate is still expected to be better than the current global and Growth expectations of major European and American countries.

It is worth noting that ADB raised its forecast for economic growth in Southeast Asia to 5.1% from 4.9% in April, indicating that ADB is optimistic about the economic recovery in Southeast Asia.

From the perspective of PMI trends, since the third quarter, the manufacturing PMIs of major Southeast Asian countries such as the Philippines, Indonesia and Thailand have shown a monthly upward trend.

　　In September 2022, the global manufacturing PMI was 50.3%, a decrease of 0.6 percentage points from the previous month, a month-on-month decrease for 4 consecutive months, and continued to refresh the new low level since July 2020.

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