China News Service, October 31. According to the website of the National Bureau of Statistics, for the October 2020 China Purchasing Manager Index, Zhao Qinghe, a senior statistician at the Service Industry Survey Center of the National Bureau of Statistics, pointed out that the manufacturing purchasing manager index in October was basically the same as last month. It remained flat, staying in the expansion range for eight consecutive months, and the non-manufacturing business activity index rebounded for three consecutive months.

　　With the continuous efforts of various policies and measures to do a good job in the "six stability" and implement the tasks of the "six guarantees", my country's economy continues to stabilize and recover.

In October, China’s manufacturing purchasing managers’ index was 51.4%, basically the same as last month; non-manufacturing business activity index and composite PMI output index were 56.2% and 55.3%, 0.3 and 0.2 percentage points higher than the previous month, respectively. Maintain the upward momentum.

1. Manufacturing Purchasing Manager Index remains stable

　　In October, the manufacturing PMI was 51.4%, which was slightly lower than 0.1% of the previous month, but it has been at 51.0% and above since July. It has been in the expansion range for eight consecutive months, and the overall manufacturing industry has continued to pick up.

Main features of this month:

　　First, production and demand maintained a faster recovery.

The production index was 53.9%, a slight decrease of 0.1 percentage point from the previous month, and the new order index was 52.8%, the same as last month, and both continued to be above the threshold, indicating that manufacturing production continued to rebound and demand improved steadily.

From the perspective of the industry, the recovery of some traditional manufacturing industries has accelerated. Among them, the production index and new order index of the textile, chemical fiber and rubber and plastic products, ferrous metal smelting and rolling processing, non-ferrous metal smelting and rolling processing, and metal products are relatively high. All have increased to varying degrees last month.

　　Second, the import and export index rebounded simultaneously above the prosperity and decline line.

This month’s new export order index and import index were 51.0% and 50.8%, which were 0.2 and 0.4 percentage points higher than last month, respectively. They were both in the expansion range for two consecutive months. The main reason is that the effects of stabilizing foreign trade and foreign investment policies continue to appear, superimposing the recent world The recovery of manufacturing in major economies has improved, and my country's imports and exports have further recovered.

　　Third, the continued recovery in demand has driven prices up.

The purchase price index and ex-factory price index of major raw materials were 58.8% and 53.2%, 0.3 and 0.7 percentage points higher than last month, and both were recent highs.

Among the 21 industries surveyed, the purchase price index of main raw materials for 9 industries and the ex-factory price index of 11 industries were higher than last month.

Among them, the two price indexes of textiles, chemical raw materials and chemical products, chemical fibers and rubber and plastic products have the most significant increases, reflecting the increase in market activity in related industries.

　　Fourth, corporate confidence continues to increase.

This month, the enterprise production and operation activity expectation index rose to 59.3%, 0.6 percentage points higher than the previous month, and the enterprise's confidence in the development of the industry accelerated its recovery.

From the perspective of industry conditions, the production and operation expectations indexes of 12 industries including textiles, non-ferrous metal smelting and rolling, general equipment, special equipment, and automobiles are all in the high boom range of 60.0% and above, indicating that companies are more optimistic about market expectations.

　　The survey results also showed that the PMI of large and medium-sized enterprises was 52.6% and 50.6% respectively, which were basically the same as last month, and the operation was generally stable.

The PMI of small enterprises was 49.4%, which was 0.7 percentage points lower than last month, and fell below the line of prosperity and decline. At the same time, the new orders index of small enterprises fell and was significantly lower than the overall level of the manufacturing industry, indicating that the market demand for small enterprises is particularly insufficient .

In addition, some surveyed companies reported that with the recent rebound of the epidemic in many countries abroad, companies are facing pressures such as lengthening the procurement cycle of imported raw materials and increasing transportation costs.

2. The non-manufacturing business activity index rebounded for three consecutive months

　　In October, the non-manufacturing business activity index was 56.2%, an increase of 0.3 percentage points from the previous month, which was the highest point for the year. The non-manufacturing industry's recovery has accelerated.

　　The service industry is recovering.

The business activity index of the service industry continued to rise to 55.5%, 0.3 percentage points higher than last month. The service industry maintained a steady and upward recovery momentum.

From the perspective of the industry, driven by the National Day and Mid-Autumn Festival, residents’ willingness to travel has increased, and consumer demand has accelerated. The business activity index of railway transportation, air transportation, accommodation and catering, culture, sports and entertainment industries is in the higher operating range of 59.0%. Related industry markets are becoming more active; the business activity index of wholesale and retail, ecological protection and environmental governance industries continues to be above the critical point, and both are 2.5 percentage points higher than last month, and the total business volume of enterprises has accelerated.

At the same time, the business activity index of capital market services and other industries is below the threshold, and the industry's prosperity is weak.

In terms of market expectations, the business activity expectation index is 62.2%, staying in the high-level business range above 60.0% for four consecutive months, and companies are more optimistic about the industry's continued recovery.

　　The construction industry continues to grow rapidly.

The business activity index of the construction industry was 59.8%, which was 0.4 percentage points lower than last month, but still maintained a relatively high level of prosperity, and the operation was generally stable.

This month’s civil engineering and construction industry business activity index, new order index, and employee index were 62.3%, 56.6%, and 51.2%, respectively, up 4.4, 0.5, and 2.2 percentage points from the previous month, indicating an increase in the volume of newly signed engineering contracts , The amount of labor employed by enterprises has increased, and infrastructure construction and production activities have accelerated.

3. The comprehensive PMI output index rose steadily

　　In October, the comprehensive PMI output index was 55.3%, 0.2 percentage points higher than last month, and the recovery of production and operation activities of Chinese enterprises accelerated.

The manufacturing production index and non-manufacturing business activity index that make up the comprehensive PMI output index are 53.9% and 56.2%, respectively.