<p>The global factory activity remained in a downturn in July, according to private surveys released on Tuesday, indicating that sluggish growth and weakness in China were taking a toll on the global economy, although the outlook in the Americas was noticeably brighter than elsewhere.</p>

<p>This situation presents a challenge for policymakers, who are navigating between implementing aggressive monetary policy tightening to control inflation and preventing potential recessions.</p>

<p>S&amp;P Global&nbsp;manufacturing activity index held steady at 48.7 in July, marking its lowest point since June 2020. The sub-indices for factory production and new orders too&nbsp;hit six-month lows. A value below 50 indicates a decline in manufacturing activity.</p>

<p>Additionally, the Purchasing Managers' Index (PMI) for the Eurozone indicated the sharpest decline in manufacturing activity since the onset of the COVID pandemic in July. Despite firms significantly reducing their prices, demand slumped.</p>

<p>Furthermore, the Eurozone experiences the fastest manufacturing contraction since the onset of the COVID pandemic, with significant weaknesses observed in Germany, France, and Italy. Germany, the largest economy in Europe, experienced a notable decline, while France and Italy, the second and third largest economies in the eurozone, also showed significant deteriorations compared to June.</p>

<p>Starting in the third quarter, manufacturing deceleration in Germany escalated as statistics indicated a heightened decline in new orders for goods. Simultaneously, the industrial sector in France experienced further contraction in July, though the decline wasn't as dire as initially projected.</p>

<p>Reuters quoted Thomas Rinn, Accenture's global industrial head, as saying&nbsp;that the manufacturing data was an indicator of the ongoing uncertainty in&nbsp;Eurozone's manufacturing sector.&nbsp;</p>

<p><strong>Asia's manufacturing challenges amid sluggish Chinese demand</strong></p>

<p>In Asia, recent surveys have highlighted a downturn in factory activity across countries, including Japan, South Korea, Taiwan, and Vietnam during July. This trend underscores the impact of sluggish Chinese demand on the region's manufacturing sector.&nbsp;</p>

<p>China's Caixin/S&amp;P Global Manufacturing PMI dropped to 49.2 in July from June's 50.5, falling short of the anticipated 50.3 and marking the first contraction since April. These figures align with the government's official PMI report, which was&nbsp;released on Monday, adding to the challenges facing officials working to revive China's post-COVID recovery efforts.</p>

<p>Japan's final Au Jibun Bank PMI declined to 49.6 in July from 49.8 in June, reflecting both weak local and international demand. In South Korea, S&amp;P Global reported a PMI of 49.4 in July, a slight improvement from June's 47.8, but still below the critical 50-threshold.</p>

<p>Similarly, Taiwan witnessed a decline in manufacturing PMI, falling to 44.1 in July from 44.8 in June. On the other hand, Vietnam saw an increase in its index, rising to 48.7 in July from 46.2, according to surveys.</p>

<p>While manufacturing in India witnessed a second consecutive month of decline, the pace of reduction remained healthy and exceeded expectations.</p>

<p><strong>America remains stable in manufacturing amid global uncertainties.</strong></p>

<p>In contrast to the oscillations observed in Asia and Europe, manufacturing operations in the United States, Canada, Brazil, and Mexico remained relatively stable.</p>

<p>Meanwhile, the United States witnessed a stabilization of its manufacturing sector, albeit at a subdued level. Although there was a slight uptick in new orders, factory employment hit&nbsp;a three-year low, reflecting an intensified wave of workforce reductions.</p>

<p>According to the Institute for Supply Management (ISM), the manufacturing Purchasing Managers' Index (PMI) for the United States stood&nbsp;at 46.4 in July, marking the ninth consecutive month of contraction. In Canada and Brazil, the July numbers approached the critical threshold of 50, with Canada's PMI at 49.6 and Brazil's at 47.8.</p>

<p>(<em>Inputs from Reuters)</em></p>

<p><strong>WATCH WION LIVE HERE</strong></p>

<p><iframe allow="accelerometer; autoplay; encrypted-media; gyroscope; picture-in-picture" allowfullscreen="" frameborder="0" height="350" src="https://www.wionews.com/live-tv/embed?autoplay=1&amp;mute=1" width="100%"></iframe></p>


The global factory activity remained in a downturn in July, according to private surveys released on Tuesday, indicating that sluggish growth and weakness in China were taking a toll on the global economy, although the outlook in the Americas was noticeably brighter than elsewhere.

The global factory activity remained in a downturn in July, according to private surveys released on Tuesday, indicating that sluggish growth and weakness in China were taking a toll on the global economy, although the outlook in the Americas was noticeably brighter than elsewhere. This situation presents a challenge for policymakers, who are navigating between implementing aggressive monetary policy tightening to control inflation and preventing potential recessions. S&P Global manufacturing activity index held steady at 48.7 in July, marking its lowest point since June 2020. The sub-indices for factory production and new orders too hit six-month lows. A value below 50 indicates a decline in manufacturing activity. Additionally, the Purchasing Managers' Index (PMI) for the Eurozone indicated the sharpest decline in manufacturing activity since the onset of the COVID pandemic in July. Despite firms significantly reducing their prices, demand slumped. Furthermore, the Eurozone experiences the fastest manufacturing contraction since the onset of the COVID pandemic, with significant weaknesses observed in Germany, France, and Italy. Germany, the largest economy in Europe, experienced a notable decline, while France and Italy, the second and third largest economies in the eurozone, also showed significant deteriorations compared to June. Starting in the third quarter, manufacturing deceleration in Germany escalated as statistics indicated a heightened decline in new orders for goods. Simultaneously, the industrial sector in France experienced further contraction in July, though the decline wasn't as dire as initially projected. Reuters quoted Thomas Rinn, Accenture's global industrial head, as saying that the manufacturing data was an indicator of the ongoing uncertainty in Eurozone's manufacturing sector. Asia's manufacturing challenges amid sluggish Chinese demand In Asia, recent surveys have highlighted a downturn in factory activity across countries, including Japan, South Korea, Taiwan, and Vietnam during July. This trend underscores the impact of sluggish Chinese demand on the region's manufacturing sector. China's Caixin/S&P Global Manufacturing PMI dropped to 49.2 in July from June's 50.5, falling short of the anticipated 50.3 and marking the first contraction since April. These figures align with the government's official PMI report, which was released on Monday, adding to the challenges facing officials working to revive China's post-COVID recovery efforts. Japan's final Au Jibun Bank PMI declined to 49.6 in July from 49.8 in June, reflecting both weak local and international demand. In South Korea, S&P Global reported a PMI of 49.4 in July, a slight improvement from June's 47.8, but still below the critical 50-threshold. Similarly, Taiwan witnessed a decline in manufacturing PMI, falling to 44.1 in July from 44.8 in June. On the other hand, Vietnam saw an increase in its index, rising to 48.7 in July from 46.2, according to surveys. While manufacturing in India witnessed a second consecutive month of decline, the pace of reduction remained healthy and exceeded expectations. America remains stable in manufacturing amid global uncertainties. In contrast to the oscillations observed in Asia and Europe, manufacturing operations in the United States, Canada, Brazil, and Mexico remained relatively stable. Meanwhile, the United States witnessed a stabilization of its manufacturing sector, albeit at a subdued level. Although there was a slight uptick in new orders, factory employment hit a three-year low, reflecting an intensified wave of workforce reductions. According to the Institute for Supply Management (ISM), the manufacturing Purchasing Managers' Index (PMI) for the United States stood at 46.4 in July, marking the ninth consecutive month of contraction. In Canada and Brazil, the July numbers approached the critical threshold of 50, with Canada's PMI at 49.6 and Brazil's at 47.8. (Inputs from Reuters) WATCH WION LIVE HERE

Global manufacturing faces downturn amid China's growth slowdown

<p>Prime Minister Narendra Modi on Thursday urged global investors to invest in India's infrastructure and manufacturing sector as his government aims to attract up to $1.5 trillion into ports, roads and other projects.</p>

<p>"If you want returns with reliability, India is the place to be," Modi told a virtual conference of 20 major global investors, including pension funds.</p>

<p>He said India would offer lower tax rates, tax incentives to manufacturers along with ease of doing business while following a path of fiscal prudence.&nbsp;</p>

<p>Speaking at virtual Global Investor Roundtable, Prime Minister Narendra Modi on Thursday said that India will be a global manufacturing powerhouse soon.</p>

<p>The Prime Minister said, "Through this year, as India bravely fought the global pandemic, the world saw India's national character. The world also saw India's true strengths."</p>

<p>"We will do whatever it takes to make India engine of global growth resurgence. India offers democracy, demography, demand and diversity," he added.<br />
<br />
Talking about the situation of coronavirus in a country he said that India has shown remarkable resilience in this pandemic, be it fighting the virus or ensuring eco stability.</p>

<p><em>(With inputs from agencies)</em></p>


Prime Minister Narendra Modi on Thursday urged global investors to invest in India's infrastructure and manufacturing sector as his government aims to attract up to $1.

Prime Minister Narendra Modi on Thursday urged global investors to invest in India's infrastructure and manufacturing sector as his government aims to attract up to $1.5 trillion into ports, roads and other projects. "If you want returns with reliability, India is the place to be," Modi told a virtual conference of 20 major global investors, including pension funds. He said India would offer lower tax rates, tax incentives to manufacturers along with ease of doing business while following a path of fiscal prudence. Speaking at virtual Global Investor Roundtable, Prime Minister Narendra Modi on Thursday said that India will be a global manufacturing powerhouse soon. The Prime Minister said, "Through this year, as India bravely fought the global pandemic, the world saw India's national character. The world also saw India's true strengths." "We will do whatever it takes to make India engine of global growth resurgence. India offers democracy, demography, demand and diversity," he added. Talking about the situation of coronavirus in a country he said that India has shown remarkable resilience in this pandemic, be it fighting the virus or ensuring eco stability. (With inputs from agencies)

India will be a global manufacturing hub soon, says PM Modi

<p>Indian Prime Minister Narendra Modi on Monday said that he wants to make India a global manufacturing hub and Indian youngsters job creators.</p>

<p>Speaking at the ASEAN Business and Investment Summit in Manila, Prime Minister said he was keeping the emphasis on &#39;minimum government, maximum governance&#39;.</p>

<div class="ui-state-default" contenteditable="false">
<div class="twitter-block" draggable="false">
<blockquote class="twitter-tweet" data-lang="en">
<p dir="ltr" lang="en">Want to make India a Global Manufacturing Hub and we want to make our youngsters job creators: PM <a href="https://twitter.com/narendramodi?ref_src=twsrc%5Etfw">@narendramodi</a></p>
&mdash; PMO India (@PMOIndia) <a href="https://twitter.com/PMOIndia/status/930014923609878528?ref_src=twsrc%5Etfw">November 13, 2017</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></div>
<a class="close-mark close-div" href="#" id="jqclosemark">&times;</a></div>

<p>Transforming India was proceeding on at an unprecedented scale and he was working day and night towards easy, effective and transparent governance, the Indian prime minister said and added that the ties between India and ASEAN have been growing in the last few years with focus being on ramping up cooperation in the areas such as trade,&nbsp;investment,&nbsp;security and defence.</p>

<div class="ui-state-default" contenteditable="false">
<div class="twitter-block" draggable="false">
<blockquote class="twitter-tweet" data-lang="en">
<p dir="ltr" lang="en">Large sections of India&#39;s population did not have access to banking services. The Jan Dhan Yojana changed that in a matter of months and transformed the lives of millions: PM <a href="https://twitter.com/narendramodi?ref_src=twsrc%5Etfw">@narendramodi</a></p>
&mdash; PMO India (@PMOIndia) <a href="https://twitter.com/PMOIndia/status/930014334498910210?ref_src=twsrc%5Etfw">November 13, 2017</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></div>
<a class="close-mark close-div" href="#" id="jqclosemark">&times;</a></div>

<p>Large sections of India&#39;s population did not have access to banking services. The Jan Dhan Yojana changed that in a matter of months and transformed the lives of millions, Modi further said during his address.&nbsp;</p>

<div class="ui-state-default" contenteditable="false">
<div class="twitter-block" draggable="false">
<blockquote class="twitter-tweet" data-lang="en">
<p dir="ltr" lang="en">Keeping our emphasis on &#39;Minimum Government, Maximum Governance&#39;, about 1200 outdated laws have been repealed in the last three years. We have simplified processes to start companies and for other clearances: PM <a href="https://twitter.com/narendramodi?ref_src=twsrc%5Etfw">@narendramodi</a></p>
&mdash; PMO India (@PMOIndia) <a href="https://twitter.com/PMOIndia/status/930013478084939776?ref_src=twsrc%5Etfw">November 13, 2017</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></div>
<a class="close-mark close-div" href="#" id="jqclosemark">&times;</a></div>

<p>On red-tapism and his governments&#39; steps in ease of doing business, Prime Minister said about 1200 outdated laws have been repealed in the last three years.&nbsp;</p>


Modi said he was keeping the emphasis on 'minimum government, maximum governance'

Indian Prime Minister Narendra Modi on Monday said that he wants to make India a global manufacturing hub and Indian youngsters job creators. Speaking at the ASEAN Business and Investment Summit in Manila, Prime Minister said he was keeping the emphasis on 'minimum government, maximum governance'. Want to make India a Global Manufacturing Hub and we want to make our youngsters job creators: PM @narendramodi — PMO India (@PMOIndia) November 13, 2017 × Transforming India was proceeding on at an unprecedented scale and he was working day and night towards easy, effective and transparent governance, the Indian prime minister said and added that the ties between India and ASEAN have been growing in the last few years with focus being on ramping up cooperation in the areas such as trade, investment, security and defence. Large sections of India's population did not have access to banking services. The Jan Dhan Yojana changed that in a matter of months and transformed the lives of millions: PM @narendramodi — PMO India (@PMOIndia) November 13, 2017 × Large sections of India's population did not have access to banking services. The Jan Dhan Yojana changed that in a matter of months and transformed the lives of millions, Modi further said during his address. Keeping our emphasis on 'Minimum Government, Maximum Governance', about 1200 outdated laws have been repealed in the last three years. We have simplified processes to start companies and for other clearances: PM @narendramodi — PMO India (@PMOIndia) November 13, 2017 × On red-tapism and his governments' steps in ease of doing business, Prime Minister said about 1200 outdated laws have been repealed in the last three years.

Want to make India global manufacturing hub: Modi at ASEAN

global-manufacturing-hub

Global Manufacturing Hub, News on Global Manufacturing Hub, stories on Global Manufacturing Hub, articles on Global Manufacturing Hub, Global Manufacturing Hub stories at Wion, Global Manufacturing Hub news, Global Manufacturing Hub latest news

global manufacturing-hub

Global manufacturing faces downturn amid China's growth slowdown

India will be a global manufacturing hub soon, says PM Modi

Want to make India global manufacturing hub: Modi at ASEAN