中国物流与采购联合会：1月份全球制造业PMI为51% 较上月上升1.5个百分点

Core Viewpoint - The global manufacturing PMI rose to 51% in January 2026, indicating a significant improvement in manufacturing activity after ten consecutive months below 50% [1][3]. Regional Summaries Africa - The manufacturing PMI in Africa fell to 49.6%, down 1.1 percentage points from the previous month, indicating a return to contraction [4]. - Major countries like Egypt and Nigeria saw their PMIs drop below 50, while South Africa's PMI increased but remained below the threshold [4]. - Challenges such as trade friction, geopolitical conflicts, and high sovereign debt ratios are hindering Africa's economic recovery, although potential for growth remains through regional integration and structural reforms [4]. Europe - Europe's manufacturing PMI reached 50%, up 0.7 percentage points from the previous month, ending a trend of being below 50 since August 2022 [5][6]. - Seasonal factors, such as post-holiday restocking, contributed to this increase, with countries like the UK, France, and Greece showing improvements [5][6]. - Despite the recovery, the European economy is expected to grow slowly, with inflation pressures easing and the ECB projecting a decline in inflation rates [6]. Asia - Asia's manufacturing PMI was stable at 51%, with a slight decrease of 0.1 percentage points, maintaining a position above 50 for nine consecutive months [7]. - Countries like India and several ASEAN nations reported PMIs above 50, indicating continued expansion [7]. - The IMF predicts that emerging markets in Asia will remain key drivers of global economic growth, with expected growth rates above 4% [7]. Americas - The manufacturing PMI in the Americas rose to 51.8%, an increase of 3.9 percentage points, marking a significant recovery after ten months below 50 [8][9]. - The rise was primarily driven by improvements in the US and Canadian manufacturing sectors, with the US PMI reaching 52.6% [8][9]. - Despite the positive trends, concerns remain regarding the sustainability of this recovery, particularly in light of ongoing trade tensions and consumer confidence issues in the US [9].