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China's Manufacturing PMI In October Was 50.2%, Down 0.6 Percentage Points From The Previous Month.
- Nov 07, 2018 -

According to the National Bureau of Statistics on October 31, in October 2018, the China Manufacturing Purchasing Managers Index (PMI) was 50.2%, down 0.6 percentage points from the previous month. The manufacturing industry continued to operate in the expansion range, but the expansion rate slowed down. .


In terms of enterprise scale, the PMI of large enterprises was 51.6%, down 0.5 percentage points from the previous month, and continued to expand; the PMI of small and medium-sized enterprises was 47.7% and 49.8%, respectively, down by 1.0 and 0.6 percentage points from the previous month, respectively. critical point.


From the classification index, among the five sub-indices that constitute the manufacturing PMI, the production index and the new order index are above the critical point, and the raw material inventory index, the employee index and the supplier delivery time index are below the critical point.


The production index was 52.0%, down 1.0 percentage point from the previous month, and continued to be in the expansion range, indicating that the pace of manufacturing expansion has slowed down.


The new order index was 50.8%, down 1.2 percentage points from the previous month, but still above the critical point, indicating that the growth rate of manufacturing market demand has declined.


The raw material inventory index was 47.2%, down 0.6 percentage points from the previous month, below the critical point, indicating that the main raw material inventory of the manufacturing industry continued to decrease.


The employee index was 48.1%, which was 0.2 percentage points lower than that of the previous month. It was below the critical point, indicating that the manufacturing industry's employment fell.


The supplier's delivery time index was 49.5%, which was 0.2 percentage points lower than the previous month. It was below the critical point, indicating that the lead time of manufacturing raw material suppliers has slowed down.


In terms of the operation of China's non-manufacturing purchasing managers' index, in October 2018, China's non-manufacturing business activity index was 53.9%, down 1.0 percentage point from the previous month, indicating that non-manufacturing industries continued to grow and the growth rate slowed down. .


In terms of industries, the service industry business activity index was 52.1%, down 1.3 percentage points from the previous month, and the service industry growth rate slowed down. From the perspective of industry categories, the index of business activities in the railway transportation industry, air transportation industry, postal industry, telecommunications broadcasting and satellite transmission services, Internet software information technology services, insurance industry, leasing and business services industries are all above 55.0%. In the higher economic range, business activities are more active. The business activity index of industries such as capital market services, real estate, residential services and repairs continued to be below the critical point, and the total business volume declined. The construction industry business activity index was 63.9%, up 0.5 percentage points from the previous month, and construction industry production activities continued to accelerate.


The new order index was 50.1%, down 0.9 percentage points from the previous month, slightly above the critical point, indicating that the pace of non-manufacturing market demand slowed down. In terms of industries, the service industry's new order index was 49.1%, down 1.0 percentage point from the previous month and falling below the critical point. The construction industry's new orders index was 56.2%, up 0.5 percentage points from the previous month.


The price index of input products was 54.9%, which was 0.7 percentage points lower than that of the previous month. It was higher than the critical point, indicating that the overall level of input prices of non-manufacturing enterprises used for business activities continued to rise, and the growth rate narrowed. In terms of industries, the service industry input price index was 53.4%, down 0.9 percentage points from the previous month. The construction industry input price index was 63.0%, up 0.2 percentage points from the previous month.


The sales price index was 51.2%, down 0.3 percentage points from the previous month. Above the critical point, the overall level of non-manufacturing sales prices has narrowed. In terms of industries, the service industry sales price index was 50.7%, down 0.3 percentage points from the previous month. The construction industry sales price index was 54.0%, down 0.4 percentage points from the previous month.


The employee index was 48.9%, down 0.4 percentage points from the previous month and below the critical point, indicating that the non-manufacturing enterprises contracted. In terms of industries, the service industry employee index was 48.0%, down 0.5 percentage points from the previous month. The construction industry employee index was 54.1%, up 0.2 percentage points from the previous month.


The business activity expectation index is 60.6%, up 0.5 percentage points from the previous month, and continues to be in a high economic range, indicating that non-manufacturing enterprises are optimistic about market development expectations. In terms of industries, the service industry's business activity expectation index was 59.7%, up 0.4 percentage points from the previous month. The construction industry business activity expectation index was 66.0%, up 0.9 percentage points from the previous month.


In addition, in October 2018, the comprehensive PMI output index was 53.1%, down 1.0 percentage point from the previous month, indicating that the production and operation activities of Chinese enterprises continued to expand, but the growth rate slowed down.