China News Service, October 31. According to the website of the National Bureau of Statistics, on October 31, 2021, the Service Industry Survey Center of the National Bureau of Statistics and the China Federation of Logistics and Purchasing released the China Purchasing Managers Index.
In this regard, Zhao Qinghe, a senior statistician at the Service Industry Survey Center of the National Bureau of Statistics, explained.
In October, the manufacturing purchasing managers index was 49.2%, down 0.4 percentage points from the previous month, and was in the contraction range for two consecutive months; the non-manufacturing business activity index and the composite PMI output index were 52.4% and 50.8%, respectively. The month fell by 0.8 and 0.9 percentage points, but it is still in the expansion range.
1. Manufacturing Purchasing Managers' Index has declined
In October, affected by factors such as still tight power supply and high prices of some raw materials, the manufacturing PMI fell to 49.2%.
From the perspective of industry conditions, among the 21 industries surveyed, 9 were above the threshold, 3 less than the previous month, and the production and operation activity of manufacturing enterprises has weakened.
Main features of this month:
One is the further slowdown on both ends of supply and demand.
The production index and the new order index were 48.4% and 48.8%, down 1.1 and 0.5 percentage points from the previous month, and continued to stay in the contraction range. Manufacturing production and market demand have weakened.
From the perspective of the industry, the two indexes of textiles, non-metallic mineral products, ferrous metal smelting and rolling processing are both in the shrinking range below 45.0%, and the prosperity level at both ends of supply and demand is low.
Second, the price index continued to rise.
The purchase price index and ex-factory price index of major raw materials were 72.1% and 61.1%, respectively, which were 8.6 and 4.7 percentage points higher than last month. The ex-factory price index was the highest in recent years.
From the perspective of the industry, the two price indices of petroleum, coal and other fuel processing, chemical raw materials and chemical products, ferrous metal smelting and rolling processing, non-ferrous metal smelting and rolling processing and other industries are in the high range of more than 73.0%, reflecting the purchase price of raw materials And product sales prices rose faster.
Third, the import and export index rebounded slightly.
The new export order index and import index were 46.6% and 47.5%, respectively, up 0.4 and 0.7 percentage points from the previous month.
The recovery of major economies in the world has slowed recently, the international economic and trade situation is complex and changeable, and the trend of manufacturing imports and exports needs further observation.
Fourth, the high-tech and equipment manufacturing industries continued to expand.
The PMIs of high-tech manufacturing and equipment manufacturing were 52.0% and 51.2%, respectively, which were 2.8 and 2.0 percentage points higher than the overall manufacturing industry. They continued the expansion trend and still had a significant pulling effect on the overall manufacturing industry.
The PMI of high-energy-consuming industries was 47.2%, 2.0 percentage points lower than the overall manufacturing industry; the expected index of production and operation activities in high-energy-consuming industries was 48.6%, 5.0 percentage points lower than the overall manufacturing industry, and both were the lowest points since March 2020. , The industry's prosperity is low, and corporate confidence is insufficient.
Fifth, the operation of large enterprises is stable.
The PMI of large enterprises was 50.3%, a slight decrease of 0.1 percentage point from the previous month, and was still above the threshold. Large enterprises continued to expand.
The PMI of medium-sized companies was 48.6%, a decrease of 1.1 percentage points from the previous month, and was in the contraction range for two consecutive months; the PMI of small companies was 47.5%, which was the same as last month, and has been in the contraction range for 6 consecutive months. The production and operation pressure of small and medium-sized enterprises is relatively high.
2. The non-manufacturing business activity index continues to stay in the expansion range
In October, the non-manufacturing business activity index was 52.4%. Although it was 0.8 percentage points lower than the previous month, it was still higher than the threshold, indicating that the non-manufacturing sector continued to expand, but its strength weakened.
The recovery of the service industry has slowed down.
The business activity index of the service industry was 51.6%, a decrease of 0.8 percentage points from the previous month, and the prosperity level has fallen.
From the perspective of the industry, the business activity index of telecommunications, broadcasting and television and satellite transmission services, Internet software and information technology services has been higher than 56.0% for two consecutive months, and the market activity has continued to increase; driven by the "Eleventh" Golden Week, and holidays The business activity indexes of the industries closely related to consumption, such as accommodation, catering, ecological protection and environmental governance, and entertainment, are all in the high prosperous range above 55.0%, and the total business volume has increased significantly from the previous month.
At the same time, due to the impact of the epidemic and weather, consumers are more inclined to spend time on the spot or travel around for short distances. Although the business activity index of railway transportation, air transportation and other industries is above the threshold this month, the expansion is relatively weak and the economic level is not as good as that. In the same period in recent years; in addition, the business activity index of the capital market services, insurance and real estate industries continued to be below the threshold, and the prosperity was low.
In terms of market expectations, the business activity expectations index was 58.5%, down 0.4 percentage points from the previous month, but it continued to be in a relatively high economic range, indicating that most companies are relatively optimistic about the service industry market development in the near future.
The construction industry grew steadily.
The business activity index of the construction industry was 56.9%, a decrease of 0.6 percentage points from the previous month, but it was still in a relatively high prosperous range, and the construction industry production continued to grow.
From the perspective of market demand and employment, the new order index and the employee index were 52.3% and 52.4%, respectively, indicating that the number of new construction contracts signed by construction companies and the number of laborers both increased from the previous month.
3. The expansion of the comprehensive PMI output index slows down
In October, the comprehensive PMI output index was 50.8%, a decrease of 0.9 percentage points from the previous month, indicating that the overall expansion of the production and operation activities of Chinese enterprises has slowed down.
The manufacturing production index and non-manufacturing business activity index that make up the comprehensive PMI output index are 48.4% and 52.4%, respectively.