In May 2020, China'S Manufacturing Purchasing Managers Index (PMI) Was 50.6%.

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

In May, China's Manufacturing Purchasing Managers Index (PMI) was 50.6%, down 0.2 percentage points from last month.

From the scale of enterprises, the PMI of large enterprises was 51.6%, an increase of 0.5 percentage points from last month. The PMI of small and medium-sized enterprises was 48.8% and 50.8%, respectively, down 1.4 and 0.2 percentage points from last month.

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

The production index was 53.2%, though 0.5 percentage points lower than last month, but above the critical point, indicating that manufacturing industry continued to improve.

The new order index was 50.9%, an increase of 0.7 percentage points from last month, indicating an increase in the manufacturing market demand.

The stock index of raw materials was 47.3%, down 0.9 percentage points from last month, indicating that the stock of main raw materials in the manufacturing industry was reduced.

The employment index is 49.4%, down 0.8 percentage points from last month, indicating that the manufacturing enterprises' employment is less than that of last month.

The supplier delivery time index was 50.5%, an increase of 0.4 percentage points from last month, indicating that the delivery time of manufacturing materials suppliers has accelerated.

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

In May, the index of non manufacturing business activity was 53.6%, an increase of 0.4 percentage points from last month.

According to the industry, the business activity index of the construction industry is 60.8%, up 1.1 percentage points from last month. The service business activity index was 52.3%, an increase of 0.2 percentage points from last month. In terms of industry, the business activity index in retail, catering, railway transportation, air transport, telecommunications, satellite transmission, Internet software and information services is above 55%, and the business activity index in cultural, sports, entertainment and capital market services is below 45%.

The new order index was 52.6%, an increase of 0.5 percentage points from last month, indicating that the demand for non manufacturing market continued to pick up. According to the industry, the new order index of construction industry was 58%, higher than the 4.8 percentage point of last month, and the new orders index of service industry was 51.7%, slightly lower than that of last month's 0.2 percentage points.

The price index of the input products was 52%, up 3 percentage points from last month, which is above the critical point, indicating that the overall price level of the non manufacturing enterprises for the business activities has increased. According to the industry, the price index of construction industry input is 60%, up 10.7 percentage points from last month, and the service industry input price index is 50.6%, higher than last month's 1.7 percentage points, reaching the critical point.

The sales price index was 48.6%, a 3.2 percentage point rise from last month, indicating that the overall decline in the sales price of non manufacturing industries has narrowed. According to the industry, the sales price index of construction industry was 54.7%, higher than that of last month by 4.5 percentage points, and the service industry sales price index was 47.6%, up 3 percentage points from last month.

The employment index was 48.5%, a slight decrease of 0.1 percentage points from last month. In terms of industry, the construction industry practitioners index was 58.8%, an increase of 1.7 percentage points from last month, and the service industry employment index was 46.7%, down 0.4 percentage points from last month.

Business activity expectations index was 63.9%, up 3.8 percentage points from last month, indicating that non manufacturing enterprises' confidence in the recent market development continued to improve. In terms of industry, the business activity expectation index of construction industry was 67.5%, up 2.1 percentage points from last month, and the service industry activity expectation index was 63.2%, up 4 percentage points from last month.

Three. Operation of China's comprehensive PMI output index

In May, the composite PMI output index was 53.4%, unchanged from last month, indicating that the production and operation of Chinese enterprises improved steadily.