China News Service, February 29th. According to the website of the National Bureau of Statistics, in February 2020, affected by the new crown pneumonia epidemic, China's purchasing manager index dropped significantly. At present, the resumption rate of enterprises is picking up quickly, and production and operation activities are being resumed in an orderly manner. As of February 25, among the companies surveyed by the national procurement managers, the resumption rate of large and medium-sized enterprises was 78.9%, of which large and medium-sized manufacturing enterprises reached 85.6%.
Performance of China's Manufacturing Purchasing Manager Index
In February 2020, affected by the epidemic, China's manufacturing purchasing manager index (PMI) was 35.7%, a decrease of 14.3 percentage points from the previous month.
From the perspective of enterprise scale, the PMIs of large, medium and small enterprises were 36.3%, 35.5% and 34.1%, down 14.1, 14.6 and 14.5 percentage points from the previous month.
From the perspective of sub-indexes, the five sub-indexes that make up the manufacturing PMI are all below the critical point.
The production index was 27.8%, a decrease of 23.5 percentage points from the previous month, indicating a slowdown in manufacturing production activities.
The new orders index was 29.3%, a decrease of 22.1 percentage points from the previous month, indicating that the demand for the manufacturing market fell.
The raw material inventory index was 33.9%, a decrease of 13.2 percentage points from the previous month, indicating that the inventory of major raw materials in the manufacturing industry had decreased.
The employment index was 31.8%, a decrease of 15.7 percentage points from the previous month, indicating that the employment level of manufacturing enterprises has decreased.
The supplier delivery time index was 32.1%, a decrease of 17.8 percentage points from the previous month, indicating that the delivery time of manufacturing raw material suppliers was slower than last month.
China's non-manufacturing purchasing manager index operation
In February 2020, the non-manufacturing business activity index was 29.6%, a decrease of 24.5 percentage points from the previous month, indicating that the overall impact of the non-manufacturing economy was marked by the epidemic.
In view of different industries, the service industry business activity index was 30.1%, a decrease of 23.0 percentage points from the previous month. From the perspective of the industry, only the monetary and financial services and capital market services business activity indexes remained in the expansion range, and the total business volume continued to grow; although the telecommunications radio and television and satellite transmission services, Internet software information technology services business activity indexes were in the contraction range, But significantly higher than the overall service industry. The business activity index of the construction industry was 26.6%, a decrease of 33.1 percentage points from the previous month.
The new orders index was 26.5%, a decrease of 24.1 percentage points from the previous month, indicating that demand in the non-manufacturing market has fallen. In view of different industries, the new orders index for the service industry was 27.0%, a decrease of 23.0 percentage points from the previous month; the new order index for the construction industry was 23.8%, a decrease of 30.0 percentage points from the previous month.
The input price index was 49.3%, a decrease of 4.0 percentage points from the previous month, and fell below the threshold, indicating that the input prices of non-manufacturing enterprises for operating activities have generally fallen. In view of different industries, the input price index of service industry was 48.4%, a decrease of 4.4 percentage points from the previous month; the input price index of construction industry was 54.0%, a decrease of 2.1 percentage points from the previous month.
The sales price index was 43.9%, a decrease of 6.6 percentage points from the previous month, and was below the critical point, indicating that the non-manufacturing sales prices generally changed from rising to falling. In view of different industries, the service industry sales price index was 42.7%, a decrease of 7.5 percentage points from the previous month; the construction industry sales price index was 50.9%, a decrease of 1.3 percentage points from the previous month.
The employment index was 37.9%, a decrease of 10.7 percentage points from the previous month. In view of different industries, the service industry employment index was 38.9%, a decrease of 8.5 percentage points from the previous month; the construction industry employment index was 32.3%, a decrease of 23.0 percentage points from the previous month.
The business activity expectation index was 40.0%, a decrease of 19.6 percentage points from the previous month, indicating that during the epidemic period, the confidence of non-manufacturing companies in the future market development has declined. In view of different industries, the service industry's business activity expectation index was 39.7%, a decrease of 19.0 percentage points from the previous month; the construction industry business activity expectation index was 41.8%, a decrease of 22.6 percentage points from the previous month.
Operation of China's Comprehensive PMI Output Index
In February 2020, the comprehensive PMI output index was 28.9%, a decrease of 24.1 percentage points from the previous month, indicating that the production and operation activities of Chinese enterprises have generally slowed down.