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China’s manufacturing PMI stands on the line of prosperity for 6 consecutive months

The Service Industry Survey Center of the National Bureau of Statistics and the China Federation of Logistics and Purchasing released data on the 31st. In August, China’s Manufacturing Purchasing Manager Index (PMI) was 51.0%, standing above the 50% line for 6 consecutive months.

From the perspective of enterprise scale, the PMI of large enterprises was 52.0%, which was the same as last month; the PMI of medium-sized enterprises was 51.6%, which was an increase of 0.4% from the previous month; the PMI of small enterprises was 47.7%, which was a decrease of 0.9% from the previous month.

From the perspective of sub-indices, among the five sub-indices that make up the manufacturing PMI, the production index, new order index and supplier delivery time index are all above the critical point, and the raw material inventory index and the employee index are below the critical point.

The production index was 53.5%. Although it fell 0.5 percentage points from the previous month, it was still above the threshold, reflecting the increase in manufacturing output compared with the previous month.

The new order index was 52.0%, an increase of 0.3 percentage points from the previous month, and it rebounded for 4 consecutive months, indicating that the manufacturing market demand continued to recover.

The raw material inventory index was 47.3%, a decrease of 0.6 percentage point from the previous month, indicating that the manufacturing industry’s main raw material inventory continued to decrease.

The employment index was 49.4%, a slight increase of 0.1 percentage point from the previous month, indicating that the employment boom of manufacturing enterprises was basically stable.

The supplier delivery time index was 50.4%, which was the same as last month and was higher than the threshold, indicating that the delivery time of manufacturing raw material suppliers is still accelerating.

Post time: Sep-01-2020