The Official PMI Was 55.7%&Nbsp In April, And Inflation Expectations Were Strengthened.

China's Manufacturing Purchasing Managers' index (PMI), released in April during the CFLP, was 55.7%, up 0.6 percentage points from last month.

The index has been maintained for more than 50% months for 14 months, reflecting the steady growth of China's economy. It is worth noting that the high price index reached 72.6%, the highest point since the second half of 2008.

In April, the PMI index showed a slight upward trend in general. The 11 sub index is nine liters and two drops. Compared with the previous month, the finished product inventory index dropped 2.1 percentage points, the import index slightly decreased by 0.6 percentage points, while the remaining 9 indexes rose, but the increase was more than 1 percentage points. The new orders index, backlog order index, purchasing volume index and purchase price index rose more obviously, with an increase of more than 1 percentage points, especially in the purchase price index, which rose to 7.5 percentage points. From the index level, the production index and the new orders index approached 60%, and the purchasing price index exceeded 70%, reaching the highest level since the second half of 2008.

Zhang Liqun, a researcher at the Ministry of macroeconomic research of the State Council Development Research Center, said that the PMI index continued to rise in April, mainly due to seasonal changes. In the past years, the PMI index showed a trend of high in 3 and April, and the reasons for this need to be further analyzed. At present, foreign trade exports and domestic market demand growth still have certain instability. To some extent, they still rely on government support and have not yet entered the new track of sustainable growth. The purchase price index is more than 70%. It is worth noting that the cost of production costs is expected to increase significantly, and the parties must attach great importance to the difficulties faced by enterprises.

According to experts from China Logistics Information Center, the index has remained at a high level of more than 60% for 4 consecutive months, and has continued to rise since November. It reached 65.1% in March and 7.5 percentage points in April, reaching 72.6%. According to the industry, 20 industries are all above 50%, of which 13 industries are higher than 70%, and 5 industries are more than 80%. Therefore, we should pay more attention to the pressure of inflation expectations.