China News Service, April 30th. The National Bureau of Statistics website announced on April 30 the operation of the China Purchasing Managers Index in April 2020. The data shows that in April, China's epidemic prevention and control situation has been further consolidated, and the production and living order has been restored. And non-manufacturing operations continued to improve. The manufacturing PMI was 50.8%, down 1.2 percentage points from the previous month; the non-manufacturing business activity index was 53.2%, up 0.9 percentage points from the previous month; the comprehensive PMI output index was 53.4%, up 0.4 percentage points from the previous month.
1. Operation of China Manufacturing Purchasing Manager Index
In April, the China Manufacturing Purchasing Managers Index (PMI) was 50.8%, down 1.2 percentage points from the previous month.
In terms of enterprise size, the PMI of large and medium-sized enterprises was 51.1% and 50.2%, respectively, down 1.5 and 1.3 percentage points from the previous month; the PMI of small enterprises was 51.0%, an increase of 0.1 percentage points from the previous month.
From the perspective of the classification index, among the five classification indexes that constitute 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 53.7%, although it was 0.4 percentage points lower than last month, but higher than 50.0%, indicating that manufacturing production continued to rebound month-on-month.
The new orders index was 50.2%, a decrease of 1.8 percentage points from the previous month, indicating that the growth rate of manufacturing market demand was narrowing.
The raw material inventory index was 48.2%, a decrease of 0.8 percentage points from the previous month, indicating that the decline in the main raw material inventory of the manufacturing industry has increased.
The employment index was 50.2%, which was 0.7 percentage points lower than the previous month, but higher than the critical point, indicating that manufacturing companies returning to work continue to pick up.
The supplier delivery time index was 50.1%, an increase of 1.9 percentage points from the previous month, indicating that the delivery of raw material suppliers in the manufacturing industry was faster than last month.
2. Operation of China's non-manufacturing purchasing managers index
In April, the non-manufacturing business activity index was 53.2%, an increase of 0.9 percentage points from the previous month.
In view of different industries, the business activity index of the construction industry was 59.7%, 4.6 percentage points higher than that of the previous month. The service industry business activity index was 52.1%, an increase of 0.3 percentage points from the previous month. From the perspective of industry categories, the business activity index of industries such as retail, catering, information transmission software and information technology services is above 55.0%, and the business activity index of industries such as accommodation, culture, sports and entertainment, and residential service industry is below 45.0%.
The new orders index was 52.1%, up 2.9 percentage points from the previous month, indicating that demand in the non-manufacturing market has recovered. In view of different industries, the construction industry new orders index was 53.2%, up 4.8 percentage points from the previous month; the service industry new orders index was 51.9%, up 2.6 percentage points from the previous month.
The input price index was 49.0%, a decrease of 0.4 percentage points from the previous month, and was still below the critical point, indicating that the overall level of input prices used by non-manufacturing enterprises for business activities continued to decline. In view of different industries, the input price index of the construction industry was 49.3%, a decrease of 3.2 percentage points from the previous month; the input price index of the service industry was 48.9%, which was the same as last month.
The sales price index was 45.4%, a decrease of 0.7 percentage points from the previous month, indicating that the overall decline in non-manufacturing sales prices has expanded. In view of different industries, the construction industry sales price index was 50.2%, which was 2.3 percentage points lower than last month; the service industry sales price index was 44.6%, which was 0.3 percentage points lower than last month.
The employment index was 48.6%, up 0.9 percentage points from the previous month. In view of different industries, the employment index of construction industry was 57.1%, an increase of 4.0 percentage points from the previous month; the employment index of service industry was 47.1%, an increase of 0.4 percentage points from the previous month.
The business activity expectation index was 60.1%, an increase of 2.8 percentage points from the previous month, indicating that non-manufacturing companies have recovered their confidence in recent market development. In view of different industries, the expected index of business activity in the construction industry was 65.4%, 5.5 percentage points higher than last month; the expected index of business activity in the service industry was 59.2%, an increase of 2.4 percentage points from the previous month.
3. Operation of China's comprehensive PMI output index
In April, the comprehensive PMI output index was 53.4%, an increase of 0.4 percentage points from the previous month, indicating that the production and operation activities of Chinese enterprises continued to resume.