April China Purchasing Manager Index Operation Announcement
Two key indicators hold above the "prosperity line"
A few days ago, the National Bureau of Statistics released the operation status of China's purchasing managers' index in April. The latest data shows that the manufacturing PMI is 50.8%, down 1.2 percentage points from the previous month; the non-manufacturing business activity index is 53.2%, an increase of 0.9 percentage points from the previous month; the comprehensive PMI output index is 53.4%, an increase from the previous month 0.4 percentage points. On the whole, in April, China's epidemic prevention and control situation was further consolidated, the production and living order accelerated, the manufacturing and non-manufacturing production and operation activities continued to improve, and the two key indicators were above the "prosperity line".
Zhao Qinghe, senior statistician of the Service Industry Survey Center of the National Bureau of Statistics, said that there are four characteristics of manufacturing operations in April:
First, the resumption of production and production continued to advance. The production index was 53.7%, which was 0.4 percentage points lower than last month, and manufacturing activity continued to recover. From the perspective of labor demand, the employment index is 50.2%, and the labor force of enterprises has increased for two consecutive months. As of April 25, in the national manufacturing procurement managers survey, 77.3% of the enterprises have resumed production, and the reproductive rate has reached more than 80% of the normal level, which is 9.4 percentage points higher than the previous month.
Second, large, medium and small enterprises have maintained a recovery trend. 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 production activities, the production indices of large, medium and small enterprises were 54.1%, 53.3% and 53.4%, respectively, and production continued to rise.
Third, demand recovery is weaker than production. The new order index was 50.2%, down 1.8 percentage points from the previous month, and lower than the production index. Among the 21 industries surveyed, the index of new orders in 15 industries, such as textiles, apparel, apparel, and chemical raw materials, was lower than the production index, and the industry demand recovery lags behind production. The survey results show that the proportion of companies that reflect insufficient orders is as high as 57.7%, and some companies report that market demand is weak, product sales are facing difficulties, and order replenishment will take time.
Fourth, the uncertainty in the import and export market has increased. The spread of foreign epidemics has accelerated, and global economic activity has contracted sharply. China's foreign trade is facing greater challenges. The new export order index and import index were 33.5% and 43.9%, down 12.9 and 4.5 percentage points from the previous month. Some manufacturing companies reported a sharp decrease in newly signed export orders, and even orders that have already started production have been cancelled.
At the same time, under the promotion of policies such as the recovery of traditional infrastructure and the acceleration of new infrastructure, the construction industry resumed production and production accelerated significantly; the retail business activity index, which is closely related to the basic life of residents, was above 60.0% for two consecutive months, and the catering industry was higher Monthly recovery was evident, and the business activity index of information transmission software and technical services rose significantly.
"Although the business activity index of the service industry has rebounded for two consecutive months, the resumption of production and production in some industries is still lagging behind. Accommodation, culture, sports and entertainment, and residents' services have been greatly affected by the epidemic. The business activity index has been below 45.0% for 3 consecutive months The production and operation of related enterprises are more difficult. "Zhao Qinghe reminded.
Wang Junling