Chinas manufacturing PMI rose to 52.1 in November, higher than the critical point for nine consecutive months

category:Finance
 Chinas manufacturing PMI rose to 52.1 in November, higher than the critical point for nine consecutive months


From the perspective of enterprise scale, the PMI of large, medium and small enterprises were 53.0%, 52.0% and 50.1%, respectively 0.4%, 1.4 and 0.7 percentage points higher than the previous month, all above the critical point.

From the perspective of sub index, among the five sub indexes of manufacturing PMI, production index, new order index and supplier delivery time index are higher than the critical point, while raw material inventory index and employee index are lower than the critical point.

The production index was 54.7%, an increase of 0.8 percentage points over the previous month, indicating that the growth of manufacturing output has accelerated.

The index of new orders was 53.9%, 1.1 percentage points higher than that of the previous month, indicating that the demand of the manufacturing industry has accelerated its recovery.

The inventory index of raw materials was 48.6%, up 0.6% from the previous month, indicating that the decline in inventory of major raw materials in the manufacturing industry narrowed.

The employment index was 49.5%, up 0.2% from the previous month, indicating a slight improvement in the employment situation of manufacturing enterprises.

The supplier delivery time index was 50.1%, which was 0.5% lower than the previous month, but it was still higher than the critical point, indicating that the delivery time of raw material suppliers in manufacturing industry was slightly faster than that of last month.

2u3001 Chinas non Manufacturing Purchasing Manager Index

In November, the non manufacturing business activity index was 56.4%, 0.2% higher than that of the previous month, which was the highest point in the year. The non manufacturing industry continued to recover steadily.

In terms of industry, the business activity index of the construction industry was 60.5%, 0.7 percentage points higher than that of the previous month. The business activity index of the service industry was 55.7%, up 0.2 percentage points over the previous month. In terms of industry situation, the business activity index of railway transportation, air transportation, telecommunication, radio and television satellite transmission service and financial industry is above 60.0%, while the business activity index of real estate industry, ecological protection and environmental treatment industry is below the critical point.

The index of new orders was 52.8%, slightly down 0.2% from the previous month, but still higher than the critical point, indicating the continuous improvement of non manufacturing market demand. In terms of industries, the index of new orders in the construction industry was 54.0%, up 0.9 percentage points over the previous month; the index of new orders in the service industry was 52.6%, down 0.3 percentage points from the previous month.

The price index of inputs was 52.7%, up 1.8 percentage points over the previous month, indicating that the prices of inputs used by non manufacturing enterprises for business activities have increased significantly. In terms of industries, the price index of construction inputs was 57.5%, up 4.6 percentage points over the previous month; the price index of inputs in service industry was 51.9%, up 1.3 percentage points over the previous month.

The expected index of business activities was 61.2%, which was 1.7 percentage points lower than that of the previous month, but it was still in the high boom range, indicating that most non manufacturing enterprises were optimistic about the development of the industry. In terms of industries, the expected index of business activities in the construction industry was 61.8%, down 5.3 percentage points from the previous month; the expected index of business activities in the service industry was 61.1%, down 1.1% from the previous month.

3u3001 Operation of Chinas comprehensive PMI output index

On November 30, 2020, the service industry survey center of the National Bureau of statistics and the China Federation of logistics and purchasing released the China purchasing manager index. In this regard, the National Bureau of Statistics Service Industry Survey Center Senior Statistician Zhao Qinghe has carried on the interpretation.