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Global manufacturing activity expands at slower pace

2019-01-08 09:28

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The world's manufacturing sector expanded at a slower pace in December, according to an index published by the China Federation of Logistics and Purchasing.

The global manufacturing purchasing managers' index (PMI) came in at 52.1 in December, down from 53.3 in November, the federation said in a statement.

The slowdown was mainly caused by a drop in the U.S. manufacturing PMI, which fell to 53.7 from 58.1 in November, according to the statement.

The reading marked a quarter-by-quarter moderation in 2018, from 55.7 in the first quarter to 53.1 in the last quarter. A reading above 50 indicates expansion.

Looking ahead, the federation said the world's manufacturing sector would continue to see slower growth in 2019, as global trade and investment were weighed on by trade friction and geopolitical factors.
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