The three major indexes including manufacturing PMI remained above the threshold for 6 consecutive months
Enterprise production and operation continue to recover
Our reporter Li Jie
On August 31, the Service Industry Survey Center of the National Bureau of Statistics and the China Federation of Logistics and Purchasing released the China Purchasing Manager Index.
In August, the Purchasing Managers Index (PMI) of China's manufacturing industry was 51.0%, a slight decrease of 0.1 percentage point from the previous month. The overall manufacturing industry was operating smoothly.
In addition, the non-manufacturing business activity index and the comprehensive PMI output index were 55.2% and 54.5%, respectively 1.0 and 0.4 percentage points higher than last month.
The above three indexes have remained above the critical point for 6 consecutive months.
Looking at the manufacturing PMI, among the 21 industries surveyed, the PMI of 15 industries is in the boom range, and shows characteristics such as continued demand recovery, accelerated development of new momentum, and improved business expectations.
Demand continues to recover, and the supply-demand cycle is gradually improving.
The new orders index in August was 52.0%, 0.3 percentage points higher than the previous month, and it rebounded for 4 consecutive months.
In terms of industry conditions, the new order index of manufacturing industries such as pharmaceuticals, non-metal products, metal products, railway, ship, aerospace equipment, electrical machinery and equipment were all higher than last month by more than 4 percentage points.
With the continuous release of a series of policies for stabilizing foreign trade and foreign investment, manufacturing exports have further improved. The new export order index in August was 49.1%, 0.7 percentage points higher than the previous month. Among them, 7 industries including non-metallic products, non-ferrous metals, and metal products Located above the critical point.
The development of new kinetic energy accelerated, and the transformation and upgrading continued.
In terms of key industries, the high-tech manufacturing and equipment manufacturing PMIs were 52.8% and 52.7%, 1.5 and 0.9 percentage points higher than last month, and 1.8 and 1.7 percentage points higher than the manufacturing PMI. New momentum is the recovery of the manufacturing industry. Infused with vitality.
Business expectations have improved and corporate confidence has increased.
This month's enterprise production and operation activities expectation index was 58.6%, 0.8 percentage points higher than last month.
From the perspective of the industry, the expected index of production and operation activities in agricultural and sideline food processing, food and beverage refined tea, medicine, special equipment, railway, ship, aerospace equipment, electrical machinery and equipment, etc. are all higher than 60.0%.
The survey results also showed that the PMI of small companies was 47.7%, down 0.9 percentage points from the previous month, and still below the critical point.
This month, small companies reported insufficient market demand and capital shortage, accounting for more than 50% and 40% respectively, and production and operation still face many difficulties.
In addition, some enterprises in Chongqing, Sichuan and other places reported that due to the impact of heavy rains and floods, the procurement cycle of raw materials has been lengthened, market orders have decreased, and enterprise production has fallen.
Looking at the non-manufacturing business activity index, the recovery momentum continues to improve.
In August, the service industry business activity index was 54.3%, an increase of 1.2 percentage points from the previous month.
From the perspective of the industry, the business activity index of transportation, telecommunications and other industries has been above 60.0% for four consecutive months, and the total business volume has continued to recover rapidly.
As the domestic epidemic prevention and control situation stabilizes, consumer demand has accelerated, accommodation, catering, culture, sports and entertainment industries have resumed operations in an orderly manner, market activity has increased, and the business activity index has continued to rise, all higher than 57.0%.
Driven by the overall economic recovery, the business activity index of the leasing and business services industry rose above the threshold for the first time since the outbreak.
In terms of market expectations, the business activity expectations index was 61.3%, which was basically the same as last month. Among them, railway transportation, air transportation, accommodation, Internet software and other industries were higher than 65.0%, and business development confidence was stable.
Zhao Qinghe, a senior statistician at the Service Industry Survey Center of the National Bureau of Statistics, said that the manufacturing production index and the non-manufacturing business activity index were 53.5% and 55.2%, respectively, rising from the previous month.
The composite PMI output index composed of the two was 54.5%, 0.4 percentage points higher than last month, indicating that the production and operation activities of Chinese enterprises continued to recover.