China'S Manufacturing Purchasing Managers Index (PMI) In June 2021 Was 50.9%

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

In June, the purchasing manager index (PMI) of China's manufacturing industry was 50.9%, down 0.1% from the previous month, and continued to be above the critical point. The manufacturing industry continued to expand steadily.

In terms of enterprise scale, the PMI of large and medium-sized enterprises were 51.7% and 50.8% respectively, down 0.1% and 0.3% compared with the previous month, both higher than the critical point; The PMI of small enterprises was 49.1%, up 0.3 percentage points from the previous 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 51.9%, down 0.8 percentage points from the previous month, higher than the critical point, indicating that the manufacturing industry continued to expand, but the pace slowed down.

The index of new orders was 51.5%, up 0.2 percentage points from the previous month, higher than the critical point, indicating that the manufacturing market demand continued to grow.

The inventory index of raw materials was 48.0%, up 0.3 percentage points from the previous month, which was lower than the critical point, indicating that the decline rate of inventory of main raw materials in the manufacturing industry was narrowed.

The employment index was 49.2%, up 0.3 percentage points from the previous month, which was lower than the critical point, indicating that the employment situation of manufacturing enterprises was slightly improved compared with that of last month.

The supplier delivery time index was 47.9%, which was 0.3% higher than the previous month, but lower than the critical point, indicating that the delivery time of raw material suppliers in the manufacturing industry continued to slow down.

　　 2、 China's non Manufacturing Purchasing Manager Index

In June, the non manufacturing business activity index was 53.5%, down 1.7% from the previous month, and the expansion of non manufacturing industry was weakened.

In terms of industry, the business activity index of the construction industry was 60.1%, flat with the previous month. The business activity index of the service industry was 52.3%, 2.0 percentage points lower than that of the previous month. From the perspective of industry situation, the business activity index of post, telecommunications, radio and television satellite transmission services, monetary and financial services, capital market services, insurance and other industries is in the relatively high boom range of 59.0%; The business activity index of air transport, accommodation, catering, real estate, leasing and business service industries is below the critical point.

The index of new orders was 49.6%, down 2.6 percentage points from the previous month, which was lower than the critical point, indicating that the non manufacturing market demand had decreased compared with the previous month. In terms of industries, the index of new orders in the construction industry was 51.2%, down 2.6 percentage points from the previous month; The index of new orders in the service sector was 49.4%, down 2.6 percentage points from the previous month.

The input price index was 53.4%, 4.3 percentage points lower than the previous month, which was higher than the critical point, indicating that the increase of input price used by non manufacturing enterprises in business activities was significantly narrowed. In terms of industries, the price index of construction inputs was 51.7%, down 21.9 percentage points from the previous month; The service industry input price index was 53.7%, down 1.2 percentage points from the previous month.

The sales price index was 51.4%, lower than 1.4% of the previous month, higher than the critical point, indicating that the increase of sales price in non manufacturing industry fell. In terms of industries, the sales price index of the construction industry was 52.0%, down 5.0 percentage points from the previous month; The sales price index of the service industry was 51.2%, down 0.8 percentage points from the previous month.

The employment index was 48.0%, down 0.9% from the previous month, indicating that the employment situation of non manufacturing industry has decreased. In terms of industries, the construction industry employee index was 50.3%, down 2.7 percentage points from the previous month; The service sector employment index was 47.6%, down 0.6 percentage points from the previous month.

The expected business activity index was 60.8%, down 2.1 percentage points from the previous month, still in the high boom range, indicating that non manufacturing enterprises continue to be optimistic about the development of the industry. In terms of industries, the expected index of business activities in the construction industry was 63.2%, down 2.5 percentage points from the previous month; The expected service business activity index was 60.4%, down 2.0 percentage points from the previous month.

　 3. Operation of China's comprehensive PMI output index

In June, the comprehensive PMI output index was 52.9%, 1.3% lower than that of the previous month, indicating that the overall expansion pace of China's enterprises' production and operation activities has slowed down.