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Global economy remains weak as manufacturing PMI remains flat

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      China

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      Global economy remains weak as manufacturing PMI remains flat

      2024-09-06 10:23 Last Updated At:16:47

      The global manufacturing purchasing managers' index (PMI) for August remained unchanged from the previous month at 48.9, marking the fifth consecutive month below the 50 threshold.

      This signals continued weakness in the global manufacturing sector, according to the data released by the China Federation of Logistics and Purchasing (CFLP) on Friday.

      By regions, Asia's manufacturing PMI dipped 0.2 percentage points from July to 50.6, but remained above 50 for the eighth straight month.

      Meanwhile, the index of Europe and the Americas saw slight improvements but remain below 50, indicating persisting weakness.

      Africa's manufacturing PMI fell to 48.4, a 1.7-percentage-point drop from last month.

      Experts say the global economy remains weak, indicating that downward pressure persists. Lingering geopolitical conflicts, high interest rates and insufficient policy stimulus continue to plague recovery efforts worldwide.

      "From the global perspective, effectively addressing economic downturns requires major economies to strengthen coordination of macroeconomic policies, particularly minimizing the negative spillover effects of policy adjustments, and enhance, stabilize and consolidate trade and economic cooperation," said Xu Hongcai, deputy director of the Economic Policy Commission under the China Association of Policy Science.

      Global economy remains weak as manufacturing PMI remains flat

      Global economy remains weak as manufacturing PMI remains flat

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      Chinese New Year fair opened in Budapest to mark upcoming Spring Festival

      2025-01-21 03:03 Last Updated At:03:17

      ⁠⁠⁠⁠⁠⁠⁠Starting on Saturday, the Budapest China town hosted a two-day Spring Festival celebration, bringing traditional Chinese performances, delicacies and culture to the city, and attracting locals to try all kinds of activities from the east.   The "Happy Chinese New Year" Temple Fair brought together thousands of artists and visitors from the East and the West to welcome the approaching 2025 Spring Festival, which marks the start of the Chinese Lunar New Year on Jan 29.

      "The reason why we are here is that we are very much interested in Chinese culture, tradition and music," said a visitor.   With dragon and lion dances, as well as traditional Chinese operas performed, Chinese music and dances are among the most popular forms of entertainment, especially for children.   "My children love Chinese culture, so I've taken them here," said a mother with two kids.   "I think this is awesome, and the music is the most attractive part. It is worth a visit," added her daughter.   Many families reached the place early in the morning to find the best positions to enjoy the shows and events, which provides local people a chance to learn about Chinese traditions.   "Since the temple fair's opening this morning, we have been here with the family members and our little boy loves everything here, particularly the music and dance," said a father.   "We know that every Chinese Lunar Year is connected with a different animal, and as far as I know, this year is a Year of the Snake," said his wife.   Every Chinese Lunar New Year ushers in a new reigning animal representing one of the 12 zodiac signs on the Chinese lunar calendar, with 2025 being a Year of the Snake. 

      Among all the visitors, István Jakab, deputy speaker of the Hungarian National Assembly, guested the fair, and shared his best wishes for China-Hungary relations.   "The friendship between China and Hungary has been a legend, and the future is bright and beautiful. Till now, the cooperation between the two countries has been productive, and we are confident we will seek closer cooperation in the future. Gong Xi Fa Cai [Wish You Great Fortune]," said Jakab.   "Gong Xi Fa Cai (Wish You Great Fortune)," he added, extending best New Year wishes in Chinese.

      Chinese New Year fair opened in Budapest to mark upcoming Spring Festival

      Chinese New Year fair opened in Budapest to mark upcoming Spring Festival

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