In August 2019, China's Manufacturing Purchasing Managers Index (PMI) Was 49.5%.

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

In August 2019, the Chinese Manufacturing Purchasing Manager Index (PMI) was 49.5%, 0.2 percentage points lower than last month.

From the scale of enterprises, the PMI of large enterprises is 50.4%, lower than that of last month's 0.3 percentage points, still in the expansion area; the PMI of medium-sized enterprises is 48.2%, down 0.5 percentage points from last month, below the critical point; PMI of small enterprises is 48.6%, up 0.4 percentage points from last month, which is located below the border.

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 51.9%, down 0.2 percentage points from last month, still above the critical point, indicating that manufacturing industry continues to expand in general.

The new order index was 49.7%, down 0.1 percentage points from last month, below the critical point, indicating a reduction in the volume of orders for manufacturing products.

The stock index of raw materials was 47.5%, down 0.5 percentage points from last month, which is below the critical point, indicating that the main raw material inventory of the manufacturing industry has declined.

The employment index is 46.9%, down 0.2 percentage points from last month, which is below the critical point, indicating that the employment volume of manufacturing enterprises has dropped.

The supplier delivery time index was 50.3%, an increase of 0.2 percentage points from last month, which is above the critical point, indicating that the delivery time of manufacturing material suppliers is accelerating.

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

In August 2019, the index of non manufacturing business activity was 53.8%, an increase of 0.1 percentage points from last month.

According to the industry, the business activity index of the service sector was 52.5%, down 0.4 percentage points from last month, and the service industry expansion rate has slowed down. In terms of industry categories, the business activity index of railway transportation industry, telecommunications broadcasting and television satellite transmission service, Internet software information technology service and other industries are located in the relatively high economic zone above 58%, and business activities are more active. Road traffic industry, other financial industry, real estate industry and other industries business activity index is located in the contraction area. The construction business activity index was 61.2%, an increase of 3 percentage points from last month, and the construction industry was upgraded.

The new order index was 50.1%, down 0.3 percentage points from last month, slightly above the critical point, indicating a slowdown in demand for non manufacturing industries. According to the industry, the new order index of the service sector was 49.4%, down 0.3 percentage points from last month, and the construction industry new orders index was 53.9%, down 0.8 percentage points from last month.

The price index of the input products was 50.8%, down 2.1 percentage points from last month, still above the critical point, indicating that the overall price increase of non manufacturing enterprises for operating activities has narrowed. According to the industry, the price index of the service industry input is 51.2%, down 1.5 percentage points from last month, and the construction industry input price index is 48.9%, down 4.7 percentage points from last month.

The sales price index was 49.1%, down 1.5 percentage points from last month to below the critical point, indicating that the overall level of non manufacturing sales prices has dropped. According to the industry, the sales price index of the service sector was 48.7%, down 1.8 percentage points from last month, and the construction industry sales price index was 51.5%, up 0.4 percentage points from last month.

The employment index is 48.9%, up 0.2 percentage points from last month, which is below the critical point, indicating that the non manufacturing enterprises continue to pick up their outlook. According to the industry, the index of service industry employees was 48.2%, up 0.1 percentage points from last month, and the construction industry employment index was 52.7%, up 0.6 percentage points from last month.

The business activity expectation index is 60.4%, up 0.6 percentage points from last month, and returning to the high and high economic zone, which indicates that the confidence of non manufacturing enterprises in the future market development is enhanced. According to the industry, the service sector business activity index is 59.8%, an increase of 0.7 percentage points from last month, and the construction industry activity activity index is 64%, up 0.3 percentage points from last month.

Three. Operation of China's comprehensive PMI output index

In August 2019, the composite PMI output index was 53%, a slight drop of 0.1 percentage points from last month, indicating that China's enterprises' production and operation activities have maintained stable development.