With the outbreak of the new coronavirus, what is the state of the world manufacturing powerhouses in the first quarter of 2020?
For example, these five world manufacturing countries:
- China: 4 trillion (28.37% of the world total)
- United States: 2.3 trillion (accounting for 16.65% of the world total)
- Japan: 1 trillion (accounting for 7.23% of the world total)
- Germany: US $ 806 billion (accounting for 5.78% of the world total)
- South Korea: USD 459 billion (accounting for 3.29% of the world total)
1. U.S. factory production contracted by 1.3% in 2019, a 10-year low Nevertheless, manufacturing is still an important part of US GDP.
2. As China began to slowly recover from the coronavirus, Chinese manufacturing expanded slightly in March.
3. The German manufacturing industry experienced the biggest decline in more than 10 years in March. IHS Markit’s Manufacturing Purchasing Manager Index (PMI) fell to 45.4, lower than the expected value of 45.7 and the expected value of 48.0 in February.
4. Due to the inventory backlog caused by the crisis in South Korea, rising demand for food and cleaning products, and protective clothing have benefited such companies.
5. For the first time in seven years, Japanese manufacturers have been pessimistic about their industry for the first time. Japan ’s Nippon Steel Corporation also said last month that it will shut down nearly 10% of its production capacity. This was an unprecedented move for the once dominant Japanese steel industry, which was hit by falling domestic demand and competition from China.
