In July 2019, China'S Manufacturing Purchasing Managers Index (PMI) Was 49.7%.

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

In July 2019, China's Manufacturing Purchasing Managers Index (PMI) was 49.7%, an increase of 0.3 percentage points from last month.

From the scale of enterprises, the PMI of large enterprises is 50.7%, up 0.8 percentage points from last month to the expansion interval; the PMI of small and medium enterprises is 48.7% and 48.2%, respectively, down 0.4 and 0.1 percentage points from last month, below the critical point.

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

The production index is 52.1%, up 0.8 percentage points from last month, which is above the critical point, indicating that the overall expansion of manufacturing industry is accelerating.

The new orders index was 49.8%, up 0.2 percentage points from last month, which is below the critical point, indicating that the decline in the volume of orders for manufacturing products has narrowed.

Raw material inventory index was 48%, down 0.2 percentage points from last month, below the critical point, indicating that the main raw material inventory of the manufacturing industry was reduced.

The index of employees was 47.1%, up 0.2 percentage points from last month, which is below the critical point, indicating that manufacturing enterprises have recovered slightly.

The supplier delivery time index was 50.1%, a slight drop of 0.1 percentage points from last month, which is above the critical point, indicating that the delivery time of manufacturing material suppliers has increased slightly.

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

In July 2019, China's non manufacturing business activity index was 53.7%, down 0.5 percentage points from last month.

According to the industry, the business activity index of the service industry was 52.9%, down 0.5 percentage points from last month, and the service industry continued to maintain growth, and the growth rate slowed down. Judging from the industry category, the business activity index of railway transportation, air transport, postal industry, telecommunications broadcasting and television satellite transmission services, cultural and sports entertainment industry and other industries is located in the higher economic zone with a range of above 56% and the industry performance is more active; the real estate business activity index is below the critical point, and the total business volume has dropped. The construction business activity index was 58.2%, down 0.5 percentage points from last month, and the pace of expansion of construction industry has slowed down.

The new order index was 50.4%, down 1.1 percentage points from last month, still above the critical point. According to the industry, the new order index of the service sector was 49.7%, down 1 percentage points from the previous month, and the construction industry new orders index was 54.7%, down 1.3 percentage points from last month.

The price index of the input goods is 52.9%, up 1.4 percentage points from last month, which is above the critical point, indicating that the overall level of the price of the input of non manufacturing enterprises for business activities has increased. According to the industry, the price index of the service industry input is 52.7%, up 1.6 percentage points from last month, and the construction industry input price index is 53.6%, down 0.3 percentage points from last month.

The sales price index was 50.6%, an increase of 0.9 percentage points from last month, and a return to the critical point, indicating that the overall level of the sales price of non manufacturing industries has risen from a downward trend. According to the industry, the sales price index of the service sector was 50.5%, up 1.4 percentage points from last month, and the construction industry sales price index was 51.1%, down 1.7 percentage points from last month.

The employee index was 48.7%, up 0.5 percentage points from last month, and it continued to be below the critical point, indicating that the non manufacturing enterprises increased their outlook. According to the industry, the index of service industry employees was 48.1%, up 0.2 percentage points from last month, and the construction industry employment index was 52.1%, up 1.7 percentage points from last month.

The business activity expectation index is 59.8%, down 0.8 percentage points from last month, and it is still in the high economic zone, which indicates that the non manufacturing enterprises are more optimistic about the market expectations. According to the industry, the service sector business activity index is 59.1%, down 1.2 percentage points from last month, and the construction industry activity activity index is 63.7%, up 1.1 percentage points from last month.

　　 Three. Operation of China's comprehensive PMI output index

In July 2019, the composite PMI output index was 53.1%, a slight increase of 0.1 percentage points from last month, indicating that China's enterprises' production and business activities steadily expanded.