In March 2019, The PMI Of China'S Manufacturing Industry Was 50.5%.

1. Operation of purchasing managers index of China's manufacturing industry

In March 2019, China's Manufacturing Purchasing Managers Index (PMI) was 50.5%, an increase of 1.3 percentage points from last month, returning to the critical point.

From the scale of enterprises, the PMI of large enterprises is 51.1%, lower than that of last month's 0.4 percentage points, higher than the critical point; the PMI of small and medium enterprises is 49.9% and 49.3%, respectively, up 3 and 4 percentage points respectively.

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

Production index was 52.7%, an increase of 3.2 percentage points from last month, returning to the critical point, indicating that the production activity of manufacturing industry has been accelerated with the concentration of commencement of operation after the Spring Festival.

The new order index was 51.6%, an increase of 1 percentage points from last month, and two consecutive months above the critical point, indicating that the manufacturing market demand continued to grow.

The stock index of raw materials was 48.4%, up 2.1 percentage points from last month, still below the critical point, indicating that the main raw material inventory of the manufacturing industry has decreased, but the decline has narrowed.

The employment index is 47.6%, a slight increase of 0.1 percentage points from last month, which is below the critical point, indicating that the employment volume of manufacturing enterprises has narrowed slightly.

The supplier delivery time index was 50.2%, an increase of 0.4 percentage points from last month, which is higher than the critical point, indicating that the delivery time of manufacturing raw material suppliers has increased faster than last month.

Two. Operation of China's non Manufacturing Purchasing Managers Index

In March 2019, China's non manufacturing business activity index was 54.8%, an increase of 0.5 percentage points from last month, indicating that the non manufacturing sector remained stable and relatively fast growth.

According to the industry, the business activity index of the service industry was 53.6%, a slight increase of 0.1 percentage points from last month, and the service industry is running steadily.

In terms of industry, business activities index such as railway pportation, loading and unloading, handling and warehousing, postal services, telecommunications, broadcasting and television and satellite pmission services, Internet software information technology services, monetary and financial services, capital market services and insurance industries are located in the relatively high economic zone of over 57%, the total volume of business is growing rapidly, business activities are more active, and the business activity index in the housing and real estate industries is below the critical point, and the total business volume has dropped.

The construction business activity index was 61.7%, up 2.5 percentage points from last month, and returned to the high economic zone.

The new order index was 52.5%, an increase of 1.8 percentage points from last month, which is above the critical point, indicating that the order quantity of non manufacturing enterprises is increasing.

According to the industry, the new order index of the service sector was 51.5%, up 1 percentage points from last month, above the critical point; the construction industry new order index was 57.9%, up 5.9 percentage points from last month, and rose to a higher boom area.

The price index of input products was 52.5%, down 0.2 percentage points from last month, which is above the critical point, indicating that the overall level of input prices of non manufacturing enterprises for business activities has narrowed slightly.

According to the industry, the price index of the service industry input is 52.2%, down 0.3 percentage points from last month, and the construction industry input price index is 54%, up 0.4 percentage points from last month.

The sales price index was 51%, up 0.9 percentage points from last month, above the critical point, indicating that the overall level of non manufacturing sales prices continued to rise.

According to the industry, the sales price index of the service sector was 50.6%, up 0.8 percentage points from last month, and the construction industry sales price index was 53.2%, up 1.5 percentage points from last month.

The employment index is 48.7%, a slight increase of 0.1 percentage points from last month, which is below the critical point, indicating that the number of non manufacturing enterprises is decreasing.

According to the industry, the index of service industry employees was 47.8%, unchanged from last month, and the construction industry employment index was 54.1%, up 0.9 percentage points from last month.

The business activity expectation index is 61.1%, down 0.4 percentage points from last month, and is still in the high business section, which indicates that the non manufacturing enterprises are optimistic about the market development expectation.

According to the industry, the service sector business activity index is 60.3%, down 0.3 percentage points from last month, and the construction industry activity activity index is 65.7%, down 1 percentage points from last month.

Three. Operation of China's comprehensive PMI output index

In March 2019, the composite PMI output index was 54%, an increase of 1.6 percentage points from last month, indicating that the overall expansion of Chinese enterprises' production and business activities accelerated.