中国物流与采购联合会：10月份全球制造业PMI为49.7% 全球经济延续缓慢恢复态势

Core Insights - The global manufacturing PMI for October 2025 is reported at 49.7%, remaining stable and within the 49%-50% range for eight consecutive months, indicating a slow recovery in the global economy [1][2] - The average global manufacturing PMI for January to October 2025 is 49.6%, which is an increase of 0.3 percentage points compared to the same period last year, but still below the levels seen in 2019 [2] - Regional analysis shows that Asian and African manufacturing PMIs have slightly decreased but remain above 50%, while European manufacturing PMI has increased slightly but remains below 50%, and the Americas' PMI has decreased, indicating ongoing challenges in recovery [2][4] Global Manufacturing Overview - The global manufacturing sector continues to stabilize within a certain range, with a recovery pace slightly better than the previous year but still below pre-pandemic levels [2] - The International Monetary Fund (IMF) projects a global economic growth rate of 3.2% for 2025, which is an upward revision of 0.2 percentage points from July but still below the pre-pandemic average of 3.7% [4] Regional Manufacturing Insights Americas - The manufacturing PMI for the Americas in October 2025 is 48.8%, a slight decrease of 0.1 percentage points, indicating continued contraction in the region [5] - Major countries like the U.S. and Mexico show declines in their manufacturing PMIs, while Canada and Brazil have seen slight increases, but all remain below the 50% threshold [5] Europe - The European manufacturing PMI for October 2025 is 49.6%, an increase of 0.6 percentage points, indicating a slight improvement in recovery efforts [8] - Key countries such as Germany, the UK, France, and Italy show small increases in their PMIs, but all remain below 50%, suggesting that overall recovery in Europe is still weak [8] Africa - The manufacturing PMI for Africa is reported at 50.8%, a decrease of 0.6 percentage points, indicating a slowdown in growth [9] - Nigeria's manufacturing PMI has increased, while South Africa's has decreased below 50%, highlighting disparities in regional performance [9] Asia - The manufacturing PMI for Asia is 50.7%, a slight decrease of 0.2 percentage points, indicating continued but slowing expansion [10] - Countries like India show an increase in their PMIs, while China, Japan, and South Korea have seen declines, reflecting mixed performance across the region [10]