National Bureau of Statistics: composite PMI output index rebounded for four consecutive months

category:Finance
 National Bureau of Statistics: composite PMI output index rebounded for four consecutive months


With the remarkable achievements made in the overall planning of epidemic prevention and control and economic and social development, Chinas economy has continued to recover steadily. In November, Chinas Manufacturing Purchasing Manager index, non manufacturing business activity index and comprehensive PMI output index were 52.1%, 56.4% and 55.7%, respectively, higher than 0.7%, 0.2% and 0.4% of the previous month. The three major indexes were all at the high points of the year, higher than the critical point for 9 consecutive months.

1u3001 Purchasing manager index of manufacturing industry increased significantly

In November, the PMI of the manufacturing industry was 52.1%, and the sub indexes were generally improved. The market vitality of the manufacturing industry was further strengthened, and the recovery growth was significantly accelerated. Among the 21 industries surveyed, the number of PMI in the expansion range increased to 19, and the prosperity of manufacturing industry expanded. Main features of the month:

First, both sides of production and demand work together. The production index and new order index were 54.7% and 53.9%, respectively, 0.8% and 1.1% higher than the previous month, both rising to the high point of the year. The difference between the two indexes has narrowed month by month since June, from 2.5% to 0.8%, indicating that the manufacturing industry continues to enhance its vitality and the supply and demand cycle continues to improve. From the perspective of the overall boom index of medical equipment and communication equipment, it is higher than that of the electronics manufacturing industry.

Second, the import and export landscape has been steadily rising. This month, the new export order index and import index were 51.5% and 50.9%, respectively higher than 0.5% and 0.1% of the previous month, both of which were the high points of the year, and they were in the expansion range for three consecutive months, maintaining the trend of monthly recovery, and Chinas import and export continued to recover.

Third, the price index has increased greatly. With the recent general rise in commodity prices, as well as the accelerated production and procurement activities of enterprises, the purchase price of raw materials and the sales price of products in the manufacturing industry increased significantly this month. The purchasing price index and ex factory price index of main raw materials were 62.6% and 56.5%, respectively, which were 3.8 and 3.3 percentage points higher than that of the previous month, both of which were the highest points in the year. From the industry situation, driven by the demand of downstream industries, the price rise of upstream products is more obvious. This month, the two price indices of petroleum processing, coal and other fuel processing, chemical raw materials and chemical products, ferrous metal smelting and rolling processing, nonferrous metal smelting and calendering processing and other industries were all in the high boom range of above 60.0%.

Fourth, the prosperity of large, medium and small enterprises has rebounded. The PMI of large, medium and small enterprises were 53.0%, 52.0% and 50.1%, respectively, higher than 0.4%, 1.4 and 0.7 percentage points of the previous month, all of which were above the critical point. The prosperity of enterprises of different sizes recovered. The survey results show that the production and operation situation of small enterprises has improved in this month. The proportion of small enterprises that reflect the shortage of funds is 42.3%, which is 2.6 percentage points lower than that of last month, which is the low point since this year. It shows that the policy measures such as helping enterprises and financial support for small and micro enterprises are effective.

The survey results also show that the recovery of the manufacturing industry is still uneven, among which PMI of textile, clothing and apparel industry has always been below the critical point since this year, and the industry prosperity continues to be weak. In addition, 18.8% of export enterprises reflected the impact of RMB exchange rate fluctuation, which was 1.7% higher than that of last month. Some enterprises said that with the continuous appreciation of RMB in recent years, their profits were under pressure, and export orders decreased.

2u3001 Non manufacturing business activity index rose slightly

In November, the non manufacturing business activity index was 56.4%, higher than 0.2% of the previous month. For four consecutive months, the non manufacturing business activity index was higher than 55.0%.

The construction industry has recovered from a high level. The business activity index of the construction industry was 60.5%, 0.7 percentage points higher than that of the previous month, returning to the high economic range, and the construction industry production activities generally accelerated. From the perspective of labor demand, the employment index was 54.4%, 1.2 percentage points higher than that of the previous month, reflecting the increase in labor demand of construction enterprises in order to meet the production needs and ensure the construction progress. 3u3001 The comprehensive PMI output index rose for four consecutive months. In November, the comprehensive PMI output index was 55.7%, higher than 0.4% of the previous month, indicating that the production and operation activities of Chinas enterprises continued to accelerate, and the recovery trend was further consolidated. The manufacturing production index and non manufacturing business activity index which constitute the composite PMI output index are 54.7% and 56.4% respectively. Source: Chen Hequn, editor in charge of National Bureau of statistics_ NB12679

The construction industry has recovered from a high level. The business activity index of the construction industry was 60.5%, 0.7 percentage points higher than that of the previous month, returning to the high economic range, and the construction industry production activities generally accelerated. From the perspective of labor demand, the employment index was 54.4%, 1.2 percentage points higher than that of the previous month, reflecting the increase in labor demand of construction enterprises in order to meet the production needs and ensure the construction progress.

In November, the comprehensive PMI output index was 55.7%, 0.4 percentage points higher than that of the previous month, indicating that the production and operation activities of Chinese enterprises continued to accelerate, and the recovery trend was further consolidated. The manufacturing production index and non manufacturing business activity index which constitute the composite PMI output index are 54.7% and 56.4% respectively.