US is Cleanest Dirty Shirt Among Manufacturing Giants. China, Japan & Germany Sink
by Wolf Richter
WolfStreet.com
Mar 3, 2019
The four account for 58% of global manufacturing value added. And the big exporters are getting hit.
The global slowdown in manufacturing progressed another notch in February. Among the top four manufacturing giants in the world, the US is the cleanest dirty shirt. Together, they produced 58% of the world’s “value added in manufacturing” in 2016:
China: $3.08 trillion (26% of global total)
US: $2.18 trillion (18% of global total)
Japan: $979 billion (8% of global total
Germany: $718 billion (6% of global total)
China’s small and mid-size manufacturers sink.
In February, manufacturing output declined for the third month in a row, and at the steepest rate since March 2016, according to the official Purchasing Managers Index (PMI), released by China’s National Bureau of Statistics. For these PMI measures, a value below 50 means “contraction,” and a value above 50 means “expansion”:
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