National Bureau Of Statistics: The Purchasing Manager Index (PMI) Of China'S Manufacturing Industry In March Was 51.9%, And The Prosperity Of Manufacturing Industry Rebounded

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

In March, the purchasing manager index (PMI) of China's manufacturing industry was 51.9%, 1.3 percentage points higher than that of the previous month, and the manufacturing industry recovered.

In terms of enterprise scale, the PMI of large, medium and small enterprises were 52.7%, 51.6% and 50.4%, respectively, which were 0.5%, 2.0 and 2.1 percentage points higher than the last month, all higher than the critical point.

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

The production index was 53.9%, up 2.0 percentage points from the previous month, higher than the critical point, indicating that the pace of production expansion in the manufacturing industry has accelerated.

The index of new orders was 53.6%, up 2.1 percentage points from the previous month, which was higher than the critical point, indicating that the market demand of the manufacturing industry grew rapidly.

The inventory index of raw materials was 48.4%, up 0.7 percentage points from the previous month, which was lower than the critical point, indicating that the decline of inventory of main raw materials in the manufacturing industry was narrowed.

The employment index was 50.1%, up 2.0 percentage points over the previous month, higher than the critical point, indicating that the labor force of manufacturing enterprises increased slightly compared with the previous month.

The supplier delivery time index was 50.0%, up 2.1 percentage points compared with the previous month, but it was at the critical point, indicating that the delivery time of raw material suppliers in the manufacturing industry had little change compared with the previous month.

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

In March, the non manufacturing business activity index was 56.3%, up 4.9 percentage points from the previous month, indicating that the expansion of non manufacturing industry has accelerated.

By industry, the business activity index of the construction industry was 62.3%, 7.6 percentage points higher than the previous month. The business activity index of the service industry was 55.2%, 4.4 percentage points higher than that of the previous month. From the perspective of industry situation, the business activity indexes of 21 service industries surveyed are all higher than the critical point. Among them, the business activity indexes of railway transportation, air transportation, telecommunication, radio and television satellite transmission services, Internet software and information technology services, monetary and financial services, insurance and other industries are in the high prosperity range of more than 60.0%.

The index of new orders was 55.9%, an increase of 7.0 percentage points over the previous month, indicating that the non manufacturing market demand increased compared with the previous month. In terms of industries, the index of new orders in the construction industry was 59.0%, up 5.6 percentage points over the previous month; the index of new orders in the service industry was 55.4%, up 7.3 percentage points over the previous month.

The price index of inputs was 56.2%, up 1.5 percentage points over the previous month, indicating that the prices of inputs used by non manufacturing enterprises in their business activities have risen in general. In terms of industries, the price index of construction inputs was 63.6%, up 3.4 percentage points over the previous month; the price index of inputs in service industry was 54.8%, up 1.1 percentage points over the previous month.

The sales price index was 52.2%, an increase of 2.1 percentage points over the previous month, indicating that the overall increase in sales prices of non manufacturing industries has increased. By industry, the sales price index of the construction industry was 55.0%, up 2.5 percentage points over the previous month; the sales price index of the service industry was 51.7%, up 2.0 percentage points over the previous month.

The employment index was 49.7%, up 1.3 percentage points from the previous month, indicating that the employment situation of non manufacturing industry continued to rise. In terms of industries, the construction industry employee index was 55.0%, up 0.8 percentage points over the previous month; the service industry employee index was 48.8%, up 1.4 percentage points from the previous month.

The expected index of business activities was 63.7%, which was 0.3% lower than that of the previous month, but it remained in the high boom range, indicating that non manufacturing enterprises remained optimistic about the development of the industry. In terms of industries, the expected index of business activities in the construction industry was 68.1%, down 0.1% from the previous month; the expected index of business activities in the service industry was 62.9%, down 0.3% from the previous month.

3. Operation of China's comprehensive PMI output index

In March, the comprehensive PMI output index was 55.3%, 3.7 percentage points higher than that of the previous month, indicating that the production and operation activities of China's enterprises have generally accelerated.