China News Service, September 30. The National Bureau of Statistics released on the 30th the operation of China's Purchasing Managers Index in September 2020. Zhao Qinghe, a senior statistician at the Service Industry Survey Center of the National Bureau of Statistics, explained that the current coordination of epidemic prevention and control and economic and social development continues With the advancement, my country's economy has maintained a steady recovery trend and positive changes have continued to increase.

In September, China’s Purchasing Managers’ Index all rebounded significantly. Among them, the Manufacturing Purchasing Managers’ Index, Non-manufacturing Business Activity Index and Comprehensive PMI Output Index were 51.5%, 55.9% and 55.1%, up 0.5, 0.7 and 0.6 respectively from the previous month. The three major indexes have been above the threshold since March.

1. Manufacturing Purchasing Managers' Index rose steadily

  In September, the PMI of the manufacturing industry was 51.5%. Among the 21 industries surveyed, the PMI of 17 industries was above the threshold, and the manufacturing industry's prosperity has expanded from the previous month.

Main features of this month:

  First, both sides of supply and demand rebounded simultaneously.

With the continuous recovery of supply and demand and the advent of the traditional production peak season, companies have increased their willingness to purchase and market activity has increased. The production index and new order index are 54.0% and 52.8%, respectively 0.5 and 0.8 percentage points higher than last month.

From the perspective of the industry, the production index and new order index of the food and beverage refined tea, general equipment, special equipment, computer communication and electronic equipment, etc. are all above 55.0%, and both are higher than the previous month.

  Second, the import and export index rose above the critical point.

With the continuous implementation of a series of stable foreign trade policies and the partial recovery of international market demand, manufacturing imports and exports have further improved. This month’s new export order index and import index were 50.8% and 50.4%, which were higher than the previous month’s 1.7 and 1.4. Percentage points, it rose above the line of prosperity for the first time this year.

  Third, the boom in some key industries has accelerated.

The PMI of high-tech manufacturing and equipment manufacturing was 54.5% and 53.0%, which were 1.7 and 0.3 percentage points higher than last month, respectively. The pace of industrial upgrading accelerated, and the driving role of new kinetic energy increased.

In addition, with the National Day and Mid-Autumn Festival approaching, the effect of holiday consumption has appeared. The PMI of the consumer goods industry rose to 52.1%, 1.7 percentage points higher than last month. The new order index was 53.7%, an increase of 2.9 percentage points from last month. It shows that the growth of product orders of related enterprises has accelerated.

  Fourth, PMI of small enterprises has returned to above the line of prosperity.

The PMIs of large, medium and small enterprises were 52.5%, 50.7% and 50.1%, respectively. Among them, small enterprises rose above the prosperity and decline line for the first time since June. A series of rescue and assistance policies for small and micro enterprises.

  At the same time, it should be noted that although overall manufacturing demand has improved, the industry has recovered unevenly.

The survey results show that this month's textile, clothing and apparel, wood processing and other manufacturing industries accounted for more than 50% of companies that reported insufficient market demand, which was higher than the overall level of the manufacturing industry, and the recovery momentum was still insufficient.

In addition, the global epidemic has not yet been fully and effectively controlled, and there are still uncertainties in my country's imports and exports.

2. The non-manufacturing business activity index continues to rise

  In September, the non-manufacturing business activity index was 55.9%, an increase of 0.7 percentage points from the previous month, and the non-manufacturing industry's economy rebounded steadily.

  The recovery of the service industry has accelerated.

The effects of the consumer promotion policies in various regions have been shown. The residents' willingness to consume has continued to increase, and market demand has been effectively released. The business activity index of the service industry in September was 55.2%, which was 0.9 percentage points higher than the previous month and rose for two consecutive months.

From the perspective of the industry, with the exception of capital market services, the business activity indexes of other industries are above the critical point. Among them, the business activity indexes of transportation, telecommunications, Internet software, accommodation and catering industries have remained above 60.0%, and the total business volume has grown rapidly; The business activity index of the leasing and business services, ecological protection and environmental governance industries that have been lagging behind in the early recovery are all higher than the previous month by more than 6.0 percentage points, and the industry activity has increased rapidly.

In terms of market demand and expectations, the new order index and business activity expectation index were 53.5% and 62.2%, 2.0 and 0.9 percentage points higher than last month, indicating that the service industry market demand is picking up and business confidence is further strengthened.

  The construction industry maintains a high level of operation.

The business activity index of the construction industry was 60.2%, which was the same as last month. It was within the 60.0% boom range for three consecutive months, indicating that with the increase in domestic infrastructure investment, new infrastructure construction has accelerated, and industry production has maintained rapid growth.

In terms of market demand and expectations, the new order index and business activity expectation index were 56.9% and 67.8%, which were 0.5 and 1.2 percentage points higher than last month, indicating that the volume of newly signed construction contracts in the construction industry has increased. Development remains relatively optimistic.

3. The comprehensive PMI output index rose for two consecutive months

  In September, the comprehensive PMI output index was 55.1%, 0.6 percentage points higher than last month, and the production and operation activities of Chinese enterprises accelerated.

The manufacturing production index and non-manufacturing business activity index, which make up the comprehensive PMI output index, were 54.0% and 55.9%, respectively, which were both higher than last month.