Data: China'S Purchasing Manager Index In February 2021 Is 50.6%

　 I. operation of purchasing manager index of China's manufacturing industry

In February, the purchasing manager index (PMI) of China's manufacturing industry was 50.6%, lower than 0.7% of the previous month. It was above the critical point for 12 consecutive months, and the prosperity level of the manufacturing industry dropped slightly compared with the previous month.

From the perspective of enterprise scale, the PMI of large enterprises was 52.2%, slightly increased by 0.1 percentage point over the previous month; the PMI of small and medium-sized enterprises was 49.6% and 48.3%, respectively, down 1.8 and 1.1 percentage points compared with the previous month, both lower than the critical point.

From the perspective of sub index, the production index and new order index are higher than the critical point, while the raw material inventory index, employee index and supplier delivery time index are lower than the critical point.

The production index was 51.9%, 1.6 percentage points lower than the previous month, higher than the critical point, indicating that the pace of production expansion in the manufacturing industry has slowed down.

The index of new orders was 51.5%, down 0.8 percentage points from the previous month, higher than the critical point, indicating that the growth rate of the manufacturing market demand slowed down.

The inventory index of raw materials was 47.7%, 1.3 percentage points lower than the previous month, lower than the critical point, indicating that the inventory of major raw materials in the manufacturing industry continued to decline.

The employment index was 48.1%, down 0.3% from the previous month, indicating that the employment situation of manufacturing enterprises decreased compared with that of last month.

The supplier delivery time index was 47.9%, down 0.9% from the previous month, indicating that the delivery time of raw material suppliers in the manufacturing industry has been extended.

　 2. Operation of purchasing manager index of China's non manufacturing industry

In February, the non manufacturing business activity index was 51.4%, 1.0 percentage points lower than that of the previous month, indicating that the pace of non manufacturing industry expansion has slowed down.

By industry, the business activity index of the construction industry was 54.7%, lower than 5.3 percentage points of the previous month. The business activity index of the service industry was 50.8%, 0.3 percentage points lower than that of the previous month. From the perspective of industry situation, the business activity index of railway transportation, telecommunication, radio and television satellite transmission service, Internet software and information technology service, monetary and financial service, ecological protection and environmental management industry is in the high boom range of 55.0% or above; the business activity index of accommodation, capital market service, leasing and business service is below the critical point.

The index of new orders was 48.9%, up 0.2% from the previous month, indicating that the decline in demand in the non manufacturing market narrowed slightly. In terms of industries, the index of new orders in the construction industry was 53.4%, up 2.2 percentage points over the previous month; the index of new orders in the service industry was 48.1%, down 0.2 percentage points from the previous month.

The price index of inputs was 54.7%, up 0.2 percentage points over the previous month, indicating that the prices of inputs used by non manufacturing enterprises for business activities continued to rise. In terms of industries, the price index of construction inputs was 60.2%, up 0.2 percentage points over the previous month; the price index of inputs in service industry was 53.7%, up 0.2 percentage points over the previous month.

The sales price index fell 1.3 percentage points to 50.1% from the previous month, slightly higher than the critical point, indicating that the sales price of non manufacturing industry was basically the same as that of last month. By industry, the sales price index of the construction industry was 52.5%, down 0.4 percentage points from the previous month; the sales price index of the service industry was 49.7%, down 1.4 percentage points from the previous month.

The employment index was 0.6 percentage points higher than that of the previous month, which was 48.4%, still below the critical point, indicating that the non manufacturing labor force decreased compared with the previous month. In terms of industries, the construction industry employee index was 54.2%, up 1.4 percentage points over the previous month; the service industry employee index was 47.4%, up 0.5 percentage points from the previous month.

The expected index of business activities was 64.0%, up 8.9 percentage points over the previous month, returning to the high boom range, indicating that non manufacturing enterprises have increased confidence in the development of the industry. In terms of industries, the expected index of business activities in the construction industry was 68.2%, up 14.6 percentage points over the previous month; the expected index of business activities in the service industry was 63.2%, up 7.9 percentage points over the previous month.

　　 3、 Operation of China's comprehensive PMI output index

In February, the comprehensive PMI output index was 51.6%, 1.2 percentage points lower than that of the previous month, indicating that the overall production and operation activities of Chinese enterprises in the Spring Festival month continued to expand, but the expansion range was narrowed.