The Foundation For Steady Growth Of China's Manufacturing Industry Is Still Not Solid.

The official Manufacturing Purchasing Managers Index (PMI) and the non manufacturing business activity index released jointly by the China National Bureau of statistics and the Federation of logistics and purchasing on September were flat, a slight increase over last month, showing production and 1

Steady growth and signs of steady economic growth.

According to the classification index, the production index and the new order index are higher than the critical points in the 5 classification indices of manufacturing PMI, while the employee index, raw material inventory index and supplier delivery time index are below the critical point.

It indicates that there are many difficulties in the production and operation of enterprises, and the capacity to go to production is heavier. The foundation for steady growth of manufacturing industry is still not solid.

Zhao Qinghe, Senior Statistician of the National Bureau of Statistics Service Industry Investigation Center, said: "manufacturing PMI in September was 50.4, unchanged from last month, continuing to expand, production and demand growth steadily, showing signs of steady phase."

However, the proportion of enterprises reflecting the increase in raw material prices and pportation costs has increased for two consecutive months, and the pressure of enterprises to reduce costs is still greater.

The manufacturing sector is still in the stage of structural adjustment.

Overcapacity is particularly prominent, and the pressure on production capacity is still relatively large.

In September, the PMI value of manufacturing was consistent with the median estimated by Reuters.

Zhao Qinghe explained that production remained stable growth in September, and the market demand fluctuated slightly, but it continued to expand.

The new orders index has been expanding for many months, although this month has dropped from last month, but it is still the highest level in nearly 5 months.

In addition, the high-tech manufacturing and equipment manufacturing industry will continue to maintain a relatively fast growth, and it is expected to continue to maintain steady growth in the future.

According to the scale of enterprises, the PMI of large enterprises in September was 52.6, an increase of 0.8 over August, continuing to be higher than the critical point; the PMI of medium-sized enterprises was 48.2, 0.7 lower than that of August, still below the critical point; PMI of small enterprises was 46.1, down 1.3 from August, and continued to be located in the contraction zone.

In September, the production index was 52.8, 0.2 higher than last month. It continued to be higher than the critical point, indicating that manufacturing production maintained steady growth and accelerated growth. The employment index was 48.6, 0.2 higher than last month, still below the critical point.

The decline in the volume of employment in enterprises has narrowed down; the stock index of raw materials is 47.4, down 0.2 from last month, below the critical point, indicating that the stock of main raw materials in manufacturing industry has been decreasing continuously; the new order index is 50.9, although it dropped 0.4 from last month, it is still higher than the critical point, indicating that the manufacturing market demand continues to expand and the growth rate has slowed down slightly.

In September, China's non manufacturing business activity index was 53.7, a slight rise of 0.2 over the previous month, a 7 consecutive month in the 53 plus business zone, and an expected activity index of 61.1, an increase of 1.7 over the previous month, indicating a new high in the year.