Operation Of China'S Manufacturing Purchasing Managers' Index In February

1、 Operation of China's manufacturing PMI

In February, the manufacturing purchasing managers' index (PMI) was 52.6%, up 2.5 percentage points from the previous month, higher than the critical point, and the manufacturing boom continued to rise.

From the perspective of enterprise scale, the PMI of large, medium and small enterprises was 53.7%, 52.0% and 51.2% respectively, higher than 1.4, 3.4 and 4.0 percentage points of the previous month, and higher than the critical point.

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

The production index was 56.7%, up 6.9 percentage points over the previous month, indicating that the manufacturing production was significantly accelerated.

The new order index was 54.1%, up 3.2 percentage points over the previous month, indicating that the manufacturing market demand continued to pick up.

The raw material inventory index was 49.8%, up 0.2 percentage points over the previous month, indicating that the decline in the inventory of major raw materials in the manufacturing industry continued to narrow.

The employee index was 50.2%, up 2.5 percentage points over the previous month, indicating that the labor volume of manufacturing enterprises increased from the previous month.

The supplier delivery time index was 52.0%, 4.4 percentage points higher than the previous month, indicating that the delivery time of raw material suppliers in the manufacturing industry was accelerated.

2、 Operation of China's non manufacturing PMI

In February, the non manufacturing business activity index was 56.3%, 1.9 percentage points higher than the previous month, higher than the critical point, and the non manufacturing industry resumed its development trend.

By industry, the construction business activity index was 60.2%, up 3.8 percentage points over the previous month. The business activity index of the service industry was 55.6%, up 1.6 percentage points over the previous month. From the perspective of industry, the business activity index of road transport, air transport, postal service, accommodation, leasing and business services and other industries is at a high boom range of more than 60.0%; The business activity index of wholesale, insurance and other industries is below the critical point.

The index of new orders was 55.8%, up 3.3 percentage points from the previous month, higher than the critical point, indicating that the demand of the non manufacturing market continued to recover. By industry, the index of new orders in the construction industry was 62.1%, up 4.7 percentage points over the previous month; The index of new orders in the service industry was 54.7%, up 3.1 percentage points over the previous month.

The input price index was 51.1%, down 0.4 percentage points from the previous month, higher than the critical point, indicating that the overall increase in the price of inputs used by non manufacturing enterprises for business activities fell back. By industry, the input price index of the construction industry was 55.3%, unchanged from the previous month; The input price index of the service industry was 50.4%, down 0.5 percentage point from the previous month.

The sales price index was 50.8%, an increase of 2.5 percentage points over the previous month, higher than the critical point, indicating that the overall level of sales prices in non manufacturing industries has increased. By industry, the sales price index of the construction industry was 53.6%, up 0.8 percentage points over the previous month; The service industry sales price index was 50.4%, up 2.9 percentage points over the previous month.

The employee index was 50.2%, up 3.5 percentage points over the previous month, indicating that the employment volume of non manufacturing enterprises increased compared with the previous month. In terms of industry, the construction industry employee index was 58.6%, up 5.5 percentage points over the previous month; The index of service industry employees was 48.7%, up 3.2 percentage points over the previous month.

The expected index of business activities was 64.9%, unchanged from the previous month, higher than the critical point, indicating that non manufacturing enterprises had a better expectation of the market recovery and development in the near future. By industry, the expected index of business activities in the construction industry was 65.8%, down 2.4 percentage points from the previous month; The expected index of business activities in the service industry was 64.8%, up 0.5 percentage point over the previous month.

3、 China Comprehensive PMI Operation of output index

In February, the comprehensive PMI output index was 56.4%, up 3.5 percentage points from the previous month, higher than the critical point, indicating that the production and business prosperity of Chinese enterprises continued to rise.