National Bureau of Statistics: Manufacturing PMI was 3.51% in March The manufacturing sector maintained an expansion trend

Chinanews.com, March 3 -- The website of the National Bureau of Statistics released the operation of China's purchasing managers' index in March 31 on March 31.

In March, the manufacturing purchasing managers' index (PMI) was 3.51%, down 9.0 percentage points from the previous month, above the critical point, and the manufacturing industry maintained its expansion.

Picture from the website of the National Bureau of Statistics

From the perspective of enterprise scale, the PMI of large, medium and small enterprises was 53.6%, 50.3% and 50.4% respectively, which was 0.1, 1.7 and 0.8 percentage points lower than the previous month, all above the critical point.

From the perspective of sub-indexes, among the five sub-indices that make up the manufacturing PMI, the production index, new order index and supplier delivery time index are all above the critical point, and the raw material inventory index and employee index are below the critical point.

The production index was 54.6%, down 2.1 percentage points from the previous month and continuing to be above the critical point, indicating that manufacturing production activities continue to expand.

The new orders index was 53.6%, down 0.5 percentage points from the previous month, continuing to be above the critical point, indicating that the demand in the manufacturing market continues to increase.

The raw material inventory index was 48.3%, down 1.5 percentage points from the previous month, indicating that the decline in the inventory of major raw materials in the manufacturing industry has expanded.

The employment index was 49.7%, down 0.5 percentage points from the previous month, indicating that the employment boom of manufacturing enterprises has declined.

The supplier delivery time index was 50.8%, down 1.2 percentage points from the previous month, still above the critical point, indicating that the delivery time of manufacturing raw material suppliers continues to accelerate.

Operation of China's Non-Manufacturing PMI. In March, the non-manufacturing business activity index was 3.58%, up 2.1 percentage points from the previous month, above the critical point, and the pace of recovery in the non-manufacturing industry accelerated.

By industry, the business activity index of the construction industry was 65.6%, up 5.4 percentage points from the previous month. The index of business activity in the service sector was 56.9%, up 1.3 percentage points from the previous month. From the perspective of industries, the business activity index of retail, railway transportation, road transportation, air transportation, Internet software and information technology services, money and financial services, leasing and business services is in the high economic range of more than 60.0%. The index of business activity in wholesale, water transportation and other industries is below the critical point.

The new orders index was 57.3%, up 1.5 percentage points from the previous month and above the critical point, indicating that demand in the non-manufacturing market continues to pick up. By industry, the new orders index of the construction industry was 50.2%, down 11.9 percentage points from the previous month; the new orders index of the service industry was 58.5%, up 3.8 percentage points from the previous month.

The input price index was 50.3%, down 0.8 percentage points from the previous month, above the critical point, indicating that the overall level of input prices used by non-manufacturing enterprises for business activities fell down. By industry, the input price index of the construction industry was 54.4%, down 0.9 percentage points from the previous month; the input price index of the service industry was 49.6%, down 0.8 percentage points from the previous month.

The sales price index was 47.8%, down 3.0 percentage points from the previous month and below the critical point, indicating that the overall level of non-manufacturing sales prices has declined. By industry, the sales price index of the construction industry was 50.9%, down 2.7 percentage points from the previous month; the sales price index of the service industry was 47.3%, down 3.1 percentage points from the previous month.

The employment index was 49.2%, down 1.0 percentage points from the previous month, indicating that the employment boom of non-manufacturing enterprises has declined. By industry, the construction industry employee index was 51.3%, down 7.3 percentage points from the previous month; the service industry employee index was 48.8%, up 0.1 percentage points from the previous month.

The business activity expectation index was 63.3%, down 1.6 percentage points from the previous month, continuing to be in the high economic range, indicating that non-manufacturing enterprises remain stable in their confidence in the recent market recovery. By industry, the expected index of business activity in the construction industry was 63.7%, down 2.1 percentage points from the previous month; the expected index of business activity in the service industry was 63.2%, down 1.6 percentage points from the previous month.

Operation of China's composite PMI output index. In March, the comprehensive PMI output index was 3.57%, up 0.0 percentage points from the previous month, which was in a higher economic range, indicating that the overall production and operation of Chinese enterprises continued to improve. (Zhongxin Finance)