Global manufacturing activity recovery remained weak in September, as the global manufacturing Purchasing Managers' Index (PMI) declined slightly from the previous month, according to the China Federation of Logistics and Purchasing on Sunday.
The global manufacturing PMI stood at 48.8 percent in September, down 0.1 percentage point from the previous month, staying around 49 percent for three consecutive months, according to data released by the federation.
A reading above 50 percent indicates expansion, while a reading below 50 reflects contraction.
By regions, Asia's manufacturing PMI was 50.7 percent in September, ending a trend of decline for two months in a row, with a slight increase of 0.1 percentage point from the previous month. The figure has remained above 50 percent for nine consecutive months.
The figure for Africa was 50.3 percent, up 1.9 percentage points from August.
Europe's manufacturing sector showed a downward trend in September, with the PMI falling 0.7 percentage points from the previous month to 47.3 percent.
The PMI for Americas was 47.8 percent in the month, an increase of 0.2 percentage points. However, as it has been running below 48 percent for three months in a row, the PMI figure shows that the manufacturing industry in the Americas remains weak.
Overall, the changes in the composite index indicate a slight decline in the recovery of the global manufacturing sector compared with August, and the overall recovery momentum still needs to be further strengthened.
Driven by the recovery of the Chinese economy, the manufacturing sector in Asia continues to serve as a stabilizer for global economic recovery.
Experts said that looking ahead to the fourth quarter, major countries around the world still have room and reasons to continue with accommodative monetary policies, while fiscal policies are also expected to continue their momentum, suggesting that the global economy is likely to further recover.
Global economic recovery remains weak as manufacturing PMI declines slightly
Macao has been emerging as a global hub for conventions and exhibitions in recent years by exploring the enormous opportunities in the sector, driving the region to advance its economic diversification and embrace a brighter future.
Macao has received many awards this year, such as the Best Convention City (Asia) and the Best BT-MICE City, showcasing the recognition for and influence of Macao's exhibition industry.
More than 1,000 electronic game enthusiasts from all over the world gathered recently in Macao to participate in a esports themed event.
Su Zhili, organizer of the event, said that Macao's rich experience in hosting large-scale events, coupled with its good infrastructure, has driven him to choose the region as an ideal destination to hold such an activity.
"Macao has held many similar large-scale events. It has rich experience, and the facilities at the venue are relatively mature, so we can start our work comfortably," said Su.
During the first three quarters of 2024, Macao held more than 1,000 conferences and exhibitions in total.
"We will invite more professional, special conferences to be held in Macao and also cultivate more exhibition brands with international influence in Macao, so as to promote Macao's exhibitions to be more market-oriented, professional, international, digital and greener from various aspects. This is our goal," said Elaine Wong, member of the Macao Commerce and Investment Promotion Institute.
In addition, multiple large exhibitions and conferences, such as the Macao International Trade and Investment fair, the Macao Franchise Expo, and the International Infrastructure Investment and Construction Forum, are held regularly in Macao.
With the introduction of a series of policies and measures to facilitate the exchanges between the mainland and Macao, as well as the construction and development of the Guangdong-Hong Kong-Macao Greater Bay Area and the Guangdong-Macao In-Depth Cooperation Zone in Hengqin, Macao's convention and exhibition industry will embrace more opportunities for development in the foreseeable future.
"We have such a good industrial base in the Greater Bay Area. The mode of 'Convention and Exhibition + Industry' not only integrates the industries of Macao, but also the industries of the Greater Bay Area. In addition, Macao actively integrates into the national development and plays a role in the Belt and Road. Why are we so confident in Macao's convention and exhibition sector? Because it is backed by the motherland, and the country gives Macao great support," said Alan Ho, chairman of the Macao Association of Convention, Exhibition and Tourism Sectors.
Macao emerges as global hub for conventions and exhibitions, driving economic diversification and international recognition
