China News Service, May 31, according to the website of the National Bureau of Statistics, the Service Survey Center of the National Bureau of Statistics and China Federation of Logistics and Purchasing released the China Purchasing Managers Index on the 31st. Zhao Qinghe, senior statistician of the Service Industry Survey Center of the National Bureau of Statistics, explained that the manufacturing purchasing managers index fell slightly in May but is still on the line of gloom and dryness.
The interpretation pointed out that at present, my country is coordinating the prevention and control of the epidemic situation and economic and social development as a whole, and the economic recovery momentum is stable and improving. In May 2020, the Manufacturing Purchasing Managers Index and the Non-manufacturing Business Activity Index remained above the critical point, of which the Manufacturing Purchasing Managers Index was 50.6%, a slight decrease of 0.2 percentage points from the previous month; the Non-manufacturing Business Activity Index was 53.6%, an increase of 0.4 percentage points from the previous month. The composite PMI output index was 53.4%, unchanged from the previous month.
Manufacturing Purchasing Managers Index fell slightly, but remained above the critical point
In May, among the enterprises surveyed by manufacturing purchasing managers, 81.2% of the enterprises had reached more than 80% of the normal production level. Although the manufacturing PMI fell slightly from last month, it continued to remain above the critical point. Main features of this month:
First, manufacturing production continued to recover. The production index was 53.2%, down 0.5 percentage points from the previous month, and the company ’s production and operation continued to improve. In the 21 industries surveyed, the production index of 14 manufacturing industries such as refined tea, petroleum processing, special equipment, and automobiles such as food and wine and beverages was above the critical point; 7 manufacturing industries including textile, apparel, apparel and wood processing were below the critical point.
Second, new orders have increased. The new order index was 50.9%, an increase of 0.7 percentage points from the previous month, and the difference with the production index has narrowed. Among the 21 industries surveyed, 12 industries had new orders index higher than last month. Among them, the new orders index of manufacturing industries such as papermaking, printing, chemical fiber, rubber, plastics, and steel rose above the critical point, indicating that the domestic related market demand has improve.
Third, the price index rebounded. The purchase price index of major raw materials and the ex-factory price index were 51.6% and 48.7% respectively, up 9.1 and 6.5 percentage points from the previous month, both highs in the past 4 months. The purchase price index of main raw materials rose above the critical point , The purchase price of raw materials of enterprises has increased. From the perspective of the industry, both the price indexes of upstream industries such as steel and nonferrous metals have rebounded significantly, higher than 55.0%.
Fourth, corporate confidence has improved. The expected index of production and operating activities of manufacturing enterprises increased by 3.9 percentage points from the previous month, reaching 57.9%. From the perspective of the industry, the expected index of production and operating activities in the manufacturing of food, wine and beverage refined tea, petroleum processing, special equipment, and automobiles is higher than 60.0%. Related companies are generally optimistic about the industry's development trend in the next three months.
Fifth, the import and export index is still low. The current global epidemic situation and the world economic situation are still grim and complex, and foreign market demand continues to shrink. This month's manufacturing new export order index and import index were 35.3% and 45.3%, although they rose by 1.8 and 1.4 percentage points from the previous month, but they were at historically low levels.
The non-manufacturing business activity index continued to rise, and the construction industry rose more
In May, the non-manufacturing business activity index was 53.6%, 0.4 percentage points higher than the previous month, in which the construction industry rebounded significantly.
The construction industry is picking up speed. The construction industry business activity index was 60.8%, an increase of 1.1 percentage points from the previous month. In terms of market demand, the new orders index increased by 4.8 percentage points from the previous month to 58.0%, and the number of new construction contracts signed by construction companies continued to rise. From the perspective of labor demand and market expectations, the construction industry employment index and business activity expectation index were 58.8% and 67.5%, up 1.7 and 2.1 percentage points from the previous month.
The service industry has steadily recovered. The business activity index of the service industry was 52.3%, a slight increase of 0.2 percentage points from the previous month. Expansion of consumer policy measures to accelerate the landing, superimposing the "May 1" holiday consumption effect, the consumer market continues to pick up. Among the 21 industries surveyed, 15 industries had a business activity index higher than 50.0%. Among them, the business activity index of transportation, accommodation, catering, telecommunications, Internet software and other industries is above 55.0%, both higher than last month, and the market activity has increased. However, the business activity index of the cultural, sports and entertainment industry is only 44.5%, which continues to be low.
Composite PMI output index unchanged from last month
In May, the composite PMI output index was 53.4%, which was the same as last month, indicating that the company's production and operations have been steadily improving. The manufacturing production index and the non-manufacturing business activity index, which constitute the composite PMI output index, were 53.2% and 53.6%, respectively, a decrease from the previous month.