China News Service, November 30th. The National Bureau of Statistics released on November 30th the operation of the China Purchasing Managers Index in November 2022.
1. Operation of China's Manufacturing Purchasing Managers Index
In November, the Manufacturing Purchasing Managers Index (PMI) was 48.0%, a decrease of 1.2 percentage points from the previous month, which was lower than the critical point, and the production and operation prosperity level of the manufacturing industry declined from the previous month.
In terms of enterprise size, the PMIs of large, medium and small enterprises were 49.1%, 48.1% and 45.6% respectively, down 1.0, 0.8 and 2.6 percentage points from the previous month, all lower than the critical point.
In terms of sub-indices, the five sub-indices that make up the manufacturing PMI are all below the critical point.
The production index was 47.8 percent, a decrease of 1.8 percentage points from the previous month, indicating that the production activities of the manufacturing industry continued to slow down.
The new orders index was 46.4 percent, a decrease of 1.7 percentage points from the previous month, indicating that the manufacturing market demand continued to fall.
The raw material inventory index was 46.7 percent, a decrease of 1.0 percentage points from the previous month, indicating that the main raw material inventory of the manufacturing industry has decreased.
The employment index was 47.4%, a decrease of 0.9 percentage points from the previous month, indicating that the employment boom of manufacturing enterprises has declined.
The supplier delivery time index was 46.7%, a decrease of 0.4 percentage points from the previous month, indicating that the delivery time of manufacturing raw material suppliers has slowed down.
2. Operation of China's Non-manufacturing Purchasing Managers Index
In November, the non-manufacturing business activity index was 46.7%, a decrease of 2.0 percentage points from the previous month, which was lower than the threshold, and the level of non-manufacturing business activity has dropped.
In terms of industries, the business activity index of the construction industry was 55.4 percent, a decrease of 2.8 percentage points from the previous month.
The service industry business activity index was 45.1%, a decrease of 1.9 percentage points from the previous month.
In terms of industry conditions, the business activity index of postal services, monetary and financial services, capital market services, insurance and other industries is above 55.0%, and the business activity index of industries such as road transportation, air transportation, accommodation, catering, culture, sports and entertainment is lower than 55.0%. 38.0%.
The new orders index was 42.3 percent, a decrease of 0.5 percentage points from the previous month, lower than the threshold, indicating that the non-manufacturing market demand has dropped.
In terms of industries, the new orders index of the construction industry was 46.9 percent, a decrease of 2.0 percentage points from the previous month; the new orders index of the service industry was 41.4 percent, a decrease of 0.3 percentage points from the previous month.
The input price index was 49.9 percent, a decrease of 1.1 percentage points from the previous month, falling below the threshold, indicating that the overall level of input prices used by non-manufacturing enterprises for business activities has declined slightly.
In terms of industries, the input price index of the construction industry was 48.7 percent, a decrease of 3.6 percentage points from the previous month; the input price index of the service industry was 50.1 percent, a decrease of 0.7 percentage points from the previous month.
The sales price index was 48.7 percent, an increase of 0.6 percentage points from the previous month, and was lower than the threshold, indicating that the decline in the overall level of non-manufacturing sales prices has narrowed.
In terms of industries, the sales price index of the construction industry was 50.9 percent, an increase of 1.1 percentage points from the previous month; the sales price index of the service industry was 48.3 percent, an increase of 0.5 percentage points from the previous month.
The employment index was 45.5 percent, a decrease of 0.6 percentage points from the previous month, indicating that the employment climate of non-manufacturing enterprises continued to decline.
In terms of industries, the employment index of the construction industry was 47.1%, a decrease of 0.7 percentage points from the previous month; the employment index of the service industry was 45.2%, a decrease of 0.6 percentage points from the previous month.
The business activity expectation index was 54.1 percent, a decrease of 3.8 percentage points from the previous month, but continued to be higher than the threshold, indicating that non-manufacturing enterprises are cautiously optimistic about the recent market recovery and development.
In terms of industries, the business activity expectation index of the construction industry was 59.6 percent, a decrease of 4.6 percentage points from the previous month; the business activity expectation index of the service industry was 53.1 percent, a decrease of 3.6 percentage points from the previous month.
3. Operation of China's Composite PMI Output Index
In November, the comprehensive PMI output index was 47.1%, down 1.9 percentage points from the previous month, lower than the critical point, indicating that the overall production and operation activities of Chinese enterprises continued to slow down.
(China New Finance and Economics)