On November 6th, the China Federation of Logistics and Purchasing released data showing that the global manufacturing PMI for October 2025 was 49.7%, unchanged from September and running in the range of 49% to 50% for eight consecutive months. In the first 10 months, the average global manufacturing PMI was 49.6%, an increase of 0.3 percentage points compared to the same period last year. Analyst Wu Wei from China Logistics Information Center told reporters that the comprehensive index has changed, and the global manufacturing industry continues to remain stable within a certain range, with a relatively stable recovery trend. The recovery strength since the beginning of this year is slightly better than the same period last year, and the global economy continues to recover slowly. The latest report from the International Monetary Fund predicts a global economic growth rate of 3.2% in 2025, which is 0.2 percentage points higher than the forecast in July. The process of globalization is unstoppable, and seeking broader and deeper economic cooperation remains the main demand for countries around the world to promote economic development. At the same time, countries around the world are also paying more attention to refinement and coordination in the implementation of monetary and fiscal policies, "said Wu Wei. The recovery of manufacturing industries in Europe and America is relatively weak. Data shows that in October, the European manufacturing PMI was 49.6%, an increase of 0.6 percentage points from September; The PMI for the manufacturing industry in the Americas was 48.8%, a slight decrease of 0.1 percentage points from September, and remained below 50% for eight consecutive months, indicating that the manufacturing industry in the Americas continues to be in a contraction zone and the recovery is relatively weak. It is worth noting that the report from the American Institute of Supply Management shows that in October 2025, the PMI for the US manufacturing industry was 48.7%, a decrease of 0.4 percentage points from September, ending two consecutive months of month on month increase and eight consecutive months of below 50%. Wu Wei stated that the overall data changes have weakened the recovery of the US manufacturing industry. In order to promote the recovery of the US economy, the Federal Reserve has cut interest rates for the second time this year, but remains cautious about whether to continue cutting interest rates in December. The latest data from the US Department of Labor shows that the US Consumer Price Index rose by 3.0% year-on-year in September, exceeding the US inflation target of 2%; The sustained low level of the manufacturing employment index means that employment in the US manufacturing industry is also under pressure. The manufacturing industry in Asia and Africa continues to expand. Data shows that in October, the Asian manufacturing PMI was 50.7%, a slight decrease of 0.2 percentage points from September, and remained above 50% for six consecutive months. The African manufacturing PMI was 50.8%, a decrease of 0.6 percentage points from September, and has been running above 50% for four consecutive months. Overall, the manufacturing industry in Asia continues to maintain a stable expansion trend and has shown good resilience in recovery. The growth rate of Africa's manufacturing industry has slowed down compared to September. ”According to Wu Wei's analysis, the latest report from the International Monetary Fund predicts that the economic growth rate of the Asia Pacific region in 2025 will be 4.5%, which is 0.6 percentage points higher than the forecast in April, and believes that Asia's contribution to global economic growth is about 60%. Adhering to the concept of openness, continuously deepening regional economic and trade cooperation, and emphasizing the stability of industrial and supply chains are important foundations for major countries in Asia to maintain economic recovery resilience. (New Society)