China News Service, February 28. The National Bureau of Statistics announced on the 28th the operation of China’s Purchasing Managers Index in February 2021. In February, China’s Manufacturing Purchasing Managers Index (PMI) was 50.6%, which was 0.7 percentage points lower than the previous month. In 12 months above the critical point, the manufacturing industry's prosperity level has fallen from the previous month.
In terms of enterprise scale, the PMI of large enterprises was 52.2%, a slight increase of 0.1 percentage point from the previous month; the PMI of small and medium-sized enterprises were 49.6% and 48.3%, respectively, 1.8 and 1.1 percentage points lower than the previous month, and both were below the threshold.
From the perspective of sub-indices, among the five sub-indices that make up the manufacturing PMI, the production index and the new order index are all above the critical point, and the raw material inventory index, the employee index, and the supplier's delivery time index are all below the critical point.
The production index was 51.9%, down 1.6 percentage points from the previous month and higher than the threshold, indicating that the pace of manufacturing production expansion has slowed down.
The new order index was 51.5%, down 0.8 percentage points from the previous month, and higher than the threshold, indicating that the growth rate of manufacturing market demand has slowed.
The raw material inventory index was 47.7%, down 1.3 percentage points from the previous month, and below the threshold, indicating that the manufacturing industry’s main raw material inventory continued to fall.
The employment index was 48.1%, a decrease of 0.3 percentage points from the previous month, indicating a decline in the employment boom of manufacturing enterprises from the previous month.
The supplier delivery time index was 47.9%, a decrease of 0.9 percentage points from the previous month, indicating that the delivery time of manufacturing raw material suppliers has been extended.
In February, the non-manufacturing business activity index was 51.4%, a decrease of 1.0 percentage point from the previous month, indicating that the pace of non-manufacturing expansion has slowed down.
In terms of different industries, the business activity index of the construction industry was 54.7%, 5.3 percentage points lower than last month.
The service industry business activity index was 50.8%, 0.3 percentage points lower than last month.
From the perspective of the industry, the business activity index of railway transportation, telecommunications, broadcasting and television satellite transmission services, Internet software and information technology services, currency and financial services, ecological protection and environmental governance are in the high-prosperity range of 55.0% and above; accommodation and capital markets The business activity index of the services, leasing and business services industries is below the critical point.
The new order index was 48.9%, up 0.2 percentage point from the previous month, indicating that the decline in non-manufacturing market demand has narrowed slightly.
In terms of different industries, the construction industry new order index was 53.4%, an increase of 2.2 percentage points from the previous month; the service industry new order index was 48.1%, a decrease of 0.2 percentage points from the previous month.
The input price index was 54.7%, an increase of 0.2 percentage points from the previous month, indicating that the input prices used by non-manufacturing enterprises for business activities continued to rise overall.
In terms of different industries, the construction industry input price index was 60.2%, an increase of 0.2 percentage points from the previous month; the service industry input price index was 53.7%, an increase of 0.2 percentage points from the previous month.
The sales price index dropped by 1.3 percentage points from the previous month to 50.1%, slightly higher than the threshold, indicating that the overall non-manufacturing sales prices were basically the same as last month.
In terms of different industries, the construction industry sales price index was 52.5%, a decrease of 0.4 percentage points from the previous month; the service industry sales price index was 49.7%, a decrease of 1.4 percentage points from the previous month.
The employment index was 0.6 percentage points higher than the previous month and was 48.4%, which is still below the critical point, indicating that non-manufacturing employment has decreased from the previous month.
In terms of different industries, the construction industry employment index was 54.2%, an increase of 1.4 percentage points from the previous month; the service industry employment index was 47.4%, an increase of 0.5 percentage points from the previous month.
The business activity expectation index was 64.0%, an increase of 8.9 percentage points from the previous month, and returned to the high level of the business range, indicating that non-manufacturing companies have increased confidence in the development of the industry.
In terms of different industries, the construction industry business activity expectation index was 68.2%, an increase of 14.6 percentage points from the previous month; the service industry business activity expectation index was 63.2%, an increase of 7.9 percentage points from the previous month.
In February, the comprehensive PMI output index was 51.6%, a decrease of 1.2 percentage points from the previous month, indicating that the overall production and operation activities of Chinese enterprises continued to expand during the Spring Festival month, but the expansion rate has narrowed.