China'S Purchasing Manager Index In August 2021 Is 50.1%

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

In August, the purchasing manager index (PMI) of China's manufacturing industry was 50.1%, which continued to be above the critical point, 0.3 percentage points lower than the previous month, and the expansion of the manufacturing industry was weakened.

From the perspective of enterprise scale, the PMI of large enterprises was 50.3%, 1.4 percentage points lower than the previous month, and continued to be higher than the critical point; The PMI of medium-sized enterprises was 51.2%, 1.2 percentage points higher than the previous month, higher than the critical point; The PMI of small enterprises was 48.2%, up 0.4% from the previous month, lower than the critical point.

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

The production index was 50.9%, 0.1% lower than the previous month, higher than the critical point, indicating that the overall expansion of manufacturing production was stable.

The index of new orders was 49.6%, down 1.3 percentage points from the previous month, which was lower than the critical point, indicating that the demand in the manufacturing industry has weakened.

The inventory index of raw materials was 47.7%, which was the same as that of the previous month, but still below the critical point, indicating that the inventory of major raw materials in the manufacturing industry decreased compared with the previous month.

The employment index was 49.6%, which was the same as last month, but still below the critical point, indicating that the labor demand of manufacturing enterprises fell slightly.

The supplier delivery time index was 48.0%, down 0.9% from the previous month, lower than the critical point, indicating that the delivery time of raw material suppliers in manufacturing industry has been extended.

　　 2、 China's non Manufacturing Purchasing Manager Index

In August, the non manufacturing business activity index was 47.5%, lower than 5.8% of the previous month, falling below the critical point, indicating that the business climate of the non manufacturing industry has dropped significantly due to the recent multi-point epidemic situation in many provinces and other factors.

In terms of industry, the business activity index of the construction industry was 60.5%, 3.0 percentage points higher than that of the previous month. The business activity index of the service industry was 45.2%, lower than 7.3 percentage points of the previous month. From the perspective of industry situation, the business activity index of road transportation, air transportation, accommodation, catering, culture, sports and entertainment industries dropped significantly below the critical point; The business activity index of wholesale, postal, telecommunication, radio, television and satellite transmission services, monetary and financial services, capital market services and other industries was higher than the critical point.

The index of new orders was 42.2%, down 7.5 percentage points from the previous month, which was lower than the critical point, indicating that the non manufacturing market demand has weakened. In terms of industries, the index of new orders in the construction industry was 51.4%, up 1.4 percentage points over the previous month; The index of new orders in the service sector was 40.5%, down 9.2 percentage points from the previous month.

The input price index was 51.3%, 2.2 percentage points lower than the previous month, which was higher than the critical point, indicating that the price of inputs used by non manufacturing enterprises for business activities narrowed compared with the previous month. In terms of industries, the price index of construction inputs was 55.3%, down 1.8 percentage points from the previous month; The service industry input price index was 50.5%, down 2.3 percentage points from the previous month.

The sales price index was 49.3%, down 2.0 percentage points from the previous month, which was lower than the critical point, indicating that the sales price of non manufacturing industries had declined. In terms of industries, the sales price index of the construction industry was 53.6%, up 0.7 percentage points over the previous month; The sales price index of the service industry was 48.5%, down 2.6 percentage points from the previous month.

The employment index was 47.0%, down 1.2 percentage points from the previous month, indicating that the employment situation of non manufacturing enterprises has decreased. In terms of industries, the construction industry employee index was 50.6%, down 1.5 percentage points from the previous month; The service sector employment index was 46.4%, down 1.1 percentage points from the previous month.

The expected index of business activities was 57.4%, 3.3 percentage points lower than that of the previous month, and it was still in a relatively high prosperity range, indicating that with the effective control of this round of epidemic situation, the confidence of non manufacturing enterprises in recent market development is generally stable. In terms of industries, the expected index of business activities in the construction industry was 58.4%, down 5.6 percentage points from the previous month; The expected service business activity index was 57.3%, down 2.8 percentage points from the previous month.

　　 3、 Operation of China's comprehensive PMI output index

In August, the comprehensive PMI output index was 48.9%, down 3.5 percentage points from the previous month, indicating that the production and operation activities of Chinese enterprises slowed down significantly compared with the previous month.