The global manufacturing PMI was 49.3% in July, ending a month-on-month increase for two consecutive months

In July 2025, the global manufacturing purchasing managers index (PMI) was 49.3%, down 0.2 percentage points from June, ending the two consecutive months of month-on-month upward trend.

The global manufacturing PMI in July fell slightly compared with June, and was operating below 50% for five consecutive months, which means that the global manufacturing industry continues to operate weakly and its recovery efforts are slightly weaker than in June.

Manufacturing industries in Europe and America are still shrinking

By region, in July, the European manufacturing PMI rose slightly compared with June, rising to more than 49%; the American manufacturing PMI fell slightly compared with June, continuing to be below 49%.

Judging from the data changes, the continued slight increase in European manufacturing PMI means that European manufacturing continues to recover slowly, and the recovery intensity has increased slightly compared with the previous month. The American manufacturing industry remained in a contraction range, and its recovery efforts weakened compared with the previous month.

According to the report of the Institute of Supply Management (ISM), the US manufacturing PMI was 48% in July 2025, down 1 percentage point from June, hitting a new low this year, and below 50% for five consecutive months. The sub-index shows that although the new order index rose slightly compared with June, it is still slightly higher than the lower level of 47%; the production index rose to more than 51%; the purchase price index is still above 64%; the employee index fell for two consecutive months, falling below 44%, and below 50% for six consecutive months.

Manufacturing in Asia and Africa is expanding

Data shows that in July, the PMI of Asia's manufacturing industry was 50.5%, a slight decrease of 0.2 percentage points from June, and above 50% for three consecutive months. The overall expansion of Asian manufacturing industry continues to become the main driving force for global economic recovery.

The latest report of the International Monetary Fund (IMF) has significantly increased China's economic growth rate in 2025 from 4% forecast in April to 4.8%. Major international organizations are optimistic about China's economic recovery prospects.

In July, the PMI of Africa's manufacturing industry was 51.1%, up 1.4 percentage points from June, and up month-on-month for two consecutive months.