A process for producing methanol or mixed alcohol which comprises reacting a synthesis gas containing hydrogen and carbon monoxide and/or carbon dioxide in a fluidized catalyst bed. Catalyst particles having an average particle diameter of not more than 150 microns and a particle density of at least 1.7 g/cm3 are used as the fluidized catalyst. The catalyst particles are contacted with the synthesis gas at a superficial linear velocity of at least 0.2 m/sec. under a pressure of 40 to 200 atmospheres.
