Global manufacturing sector has expanded at a slower pace in April, according to an index published by the China Federation of Logistics and Purchasing (CFLP) on Sunday. The global manufacturing purchasing managers index (PMI) stood at 54.4 last month, down from 55.2 in March, according to the CFLP. The reading marks the second monthly decline in a row but is still at a relatively high level, indicating sound economic expansion around the globe, it said in a statement.
The CFLP said the second quarter is usually a high season for the manufacturing sector, which will contribute to further recovery in the global economy. "With tax reduction being the mainstream economic policies for major countries, the world economy is expected to gain more vitality, the federation said, noting that the manufacturing sector is still a priority in boosting real economy.
The CFLP warned that deglobalization activities are still hampering the world economic development, while trade frictions and political elections in some countries will also bring uncertainties. Chinas manufacturing PMI came in at 51.4 in April, down from 51.5 a month ago, official data showed.