Decline in Global Factory Activity Eases #infographic

Decline in Global Factory Activity Eases #infographic

A set of indices calculated by IHS Markit, Caixin and Jibun Bank in Japan, Italy, Germany and the United States all showed solid output gains after a tough start to 2020. China, the first nation to gain momentum by curbing the spread of COVID-19 within its region, crossed the expansion threshold with an IHS index above 50 in May but again missed the significant mark in June. Countries that felt the brunt of COVID-19 later than China, like Italy, Germany, and the U.S., are slowly rising, but still in the contraction zone.

Worldwide, factories shut down as demand for production decreased, and workers stayed at home due to COVID-19 constraints. Now, new indices that measure manufacturing production show signs that recovery may begin in some of the world's top industrial nations.

On the other hand, Japan is beginning to slip into a deeper recession and manufacturing is starting to decline negatively. Jibun Bank PMI scored 37.8 index points in June – a 11-year low.
The US also had an 11-year low in industrial growth in April, and although the industrial upswing points to a potential rebound, many analysts expect a long way to go before the damage to COVID-19 lockdowns turns over. June statistics suggest continued progress, but ongoing protests over racial injustice and police violence along with increased COVID-19 incidents may further slow the economic recovery as businesses refuse to open up.

Decline in Global Factory Activity Eases #infographic

infographic by:

Share This Infographic On Your Site

Post a Comment