US-China Manufacturing Sector Stabilizes... Europe Faces Accelerating Recession

[Asia Economy New York=Correspondent Kim Bong-su] While the manufacturing sectors in the United States and China are stabilizing, Europe's manufacturing downturn appears to be worsening.

According to the Wall Street Journal (WSJ) on the 2nd (local time), the information analysis company 'IHS Markit' announced that the final Purchasing Managers' Index (PMI) for US manufacturing in December was 52.4, slightly down from 52.6 in the previous month. The PMI is an indicator surveyed monthly from purchasing managers of companies to gauge economic outlook; a value above 50 indicates expansion, while below 50 indicates contraction. Chris Williamson, Chief Business Economist at IHS Markit, explained, "The US manufacturing sector has maintained a weak recovery since last summer," adding, "The expansion in December was influenced by an increase in new orders."

IHS Markit also reported that China's December PMI recorded 51.5, slightly down from 51.8 in the previous month, but the expansion in economic activity was maintained.

On the other hand, Germany's December PMI fell to 43.7 from 44.1 in the previous month, remaining below 50. WSJ reported, "Manufacturing activity in Italy, Spain, and the United Kingdom also contracted more sharply, and France's expansion slowed."

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