National Bureau Of Statistics: China'S Manufacturing Purchasing Manager Index (PMI) In May 2021 Was 51.0%

　　 1、 Operation of purchasing manager index in China's manufacturing industry

In May, the purchasing manager index (PMI) of China's manufacturing industry was 51.0%, slightly lower than 0.1% of the previous month, which continued to be above the critical point, and the manufacturing industry maintained a stable expansion.

In terms of enterprise scale, the PMI of large and medium-sized enterprises were 51.8% and 51.1%, respectively, 0.1% and 0.8 percentage points higher than the previous month, both higher than the critical point; PMI of small enterprises was 48.8%, 2.0 percentage points lower than that of last month, lower than the critical point.

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

The production index was 52.7%, 0.5 percentage points higher than the previous month, higher than the critical point, indicating that the expansion of manufacturing production has been strengthened.

The index of new orders was 51.3%, down 0.7 percentage points from the previous month, higher than the critical point, indicating that the growth of market demand in the manufacturing industry has slowed down.

The inventory index of raw materials was 47.7%, down 0.6% from the previous month, lower than the critical point, indicating that the inventory of major raw materials in the manufacturing industry has decreased.

The employment index was 48.9%, down 0.7 percentage points from the previous month, which was lower than the critical point, indicating that the employment situation of manufacturing enterprises was lower than that of last month.

The supplier delivery time index was 47.6%, 1.1% lower than the previous month, lower than the critical point, indicating that the delivery time of raw material suppliers in the manufacturing industry has been further extended.

　　 2、 China's non Manufacturing Purchasing Manager Index

In May, the non manufacturing business activity index was 55.2%, up 0.3% from the previous month, and the pace of non manufacturing industry expansion accelerated.

In terms of industry, the business activity index of the construction industry was 60.1%, 2.7 percentage points higher than that of the previous month. The business activity index of the service industry was 54.3%, 0.1 percentage point lower than that of the previous month. From the perspective of industry situation, the business activity index of railway transportation, air transportation, accommodation, telecommunication, radio and television satellite transmission service, culture, sports and entertainment industry is in the high prosperity range above 60.0%; Water transport, capital market services, real estate and other industries business activity index is below the critical point.

The index of new orders was 52.2%, up 0.7 percentage points from the previous month, higher than the critical point, indicating that the non manufacturing market demand continued to grow. In terms of industries, the index of new orders in the construction industry was 53.8%, up 1.4 percentage points over the previous month; The index of new orders in the service sector was 52.0%, up 0.7 percentage points over the previous month.

The input price index was 57.7%, up 2.8 percentage points over the previous month, which was higher than the critical point, indicating that the price increase of inputs used by non manufacturing enterprises in business activities increased. In terms of industries, the price index of construction inputs was 73.6%, an increase of 8.9 percentage points over the previous month; The price index of service inputs was 54.9%, up 1.8 percentage points over the previous month.

The sales price index was 52.8%, 1.6 percentage points higher than the previous month, higher than the critical point, indicating that the increase of sales price in non manufacturing industry has increased. In terms of industries, the sales price index of the construction industry was 57.0%, up 0.3 percentage points over the previous month; The sales price index of the service industry was 52.0%, up 1.8 percentage points over the previous month.

The employment index was 48.9%, up 0.2% from the previous month, indicating a slight increase in the employment outlook of non manufacturing industries. In terms of industries, the construction industry employee index was 53.0%, up 2.0 percentage points over the previous month; The service sector employment index was 48.2%, down 0.1 percentage points from the previous month.

The expected index of business activities was 62.9%, slightly down 0.1% from the previous month, and remained in the high boom range, indicating that non manufacturing enterprises are optimistic about the development of the industry. In terms of industries, the expected index of business activities in the construction industry was 65.7%, up 0.9 percentage points over the previous month; The expected service business activity index was 62.4%, down 0.3 percentage points from the previous month.

　 3. Operation of China's comprehensive PMI output index

In May, the comprehensive PMI output index was 54.2%, 0.4% higher than that of the previous month, indicating that the production and operation activities of China's enterprises continued to expand steadily.