Decline in Global Factory Activity Eases #infographic

Decline in Global Factory Activity Eases #infographic

After a rough start to 2020, a range of indexes measured by IHS Markit, Caixin and Jibun Bank in Japan, Italy, Germany and the United States all showed strong manufacturing gains. China, the first nation to gain traction by restricting the spread of COVID-19 within its country, crossed the threshold of expansion with an IHS index above 50 in May but again missed the important mark in June. Countries that felt COVID-19's brunt later than China, including Italy, Germany , and the United States, are finally rising, but are still in the contraction zone.

Factories across the world shut down as production demand declined and workers remained at home because of COVID-19 restrictions. Now, new indices measuring the output of manufacturing show signs that recovery may begin in some of the world's top industrial countries.

At the other hand, Japan is starting to fall into a deeper recession and manufacturing is beginning to decline negatively. Jibun Bank PMI hit 37.8 index points in June-a low of 11 years.

In April, the US also had an 11-year low in industrial growth, and while the uptick in industrial points to a possible recovery, many experts expect a long way to go before the COVID-19 lockdowns damage is turned around. June statistics suggest continued progress, but continued protests over racial injustice and police violence, along with increased COVID-19 incidents, may further slow down the economic recovery as businesses refuse to open.

Decline in Global Factory Activity Eases #infographic

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