China News Service, Beijing, March 6th: Asia’s manufacturing PMI was 50.3% in February, still maintaining a steady growth trend.
Sino-Singapore Finance reporter Ruan Yulin
Data released by the China Federation of Logistics and Purchasing on the 6th showed that in February 2024, the Asian Manufacturing Purchasing Managers Index (PMI) was 50.3%, a slight decrease of 0.1 percentage points from the previous month, and remained above 50% for 2 consecutive months. It reflects that Asia's manufacturing industry still maintains a steady growth trend.
From the perspective of major countries, China's manufacturing PMI has stabilized at above 49% for 2 consecutive months; India's manufacturing PMI has stabilized at above 56% for 2 consecutive months; among ASEAN countries, except for Thailand's manufacturing PMI, which dropped significantly from the previous month, The trend of manufacturing PMI in other countries is relatively stable with little fluctuation.
According to the analysis, the trend of Asia's manufacturing PMI shows that the stability of Asia's manufacturing industry is still better than that of Europe, America and Africa.
The continued advancement of RCEP will help enhance the degree of economic integration in Asia, thus ensuring economic stability in Asia.
The steady economic recovery of China and India remains an important force in promoting economic stability in Asia.
In particular, China's support for the Asian and world economies is still very obvious.
According to data from the Wilson Center, an American think tank, China remains the largest trading partner of more than 120 countries and regions, including Japan, South Korea, and Vietnam.
In addition, ASEAN is also an important force in the stable economic growth of Asia. Major countries have maintained steady growth. The Asian Development Bank predicts that the ASEAN economy will grow by 5% in 2024.
In February, the global manufacturing PMI was 49.1%, down 0.2 percentage points from the previous month.
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