National Bureau of Statistics: Manufacturing PMI for May was 5.48%

Chinanews.com, May 5 -- The National Bureau of Statistics released the operation of China's purchasing managers' index for May 31 on May 31. In May, the manufacturing purchasing managers' index (PMI) was 2023.5%, down 5.48 percentage points from the previous month, below the critical point, and the manufacturing boom level fell slightly.

Picture from the website of the National Bureau of Statistics

From the perspective of enterprise scale, the PMI of large enterprises was 50.0%, up 0.7 percentage points from the previous month, located at the critical point; the PMI of small and medium-sized enterprises was 47.6% and 47.9% respectively, down 1.6 and 1.1 percentage points from the previous month, lower than the critical point.

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

The production index was 49.6%, down 0.6 percentage points from the previous month, indicating a slowdown in manufacturing production activity.

The new orders index was 48.3%, down 0.5 percentage points from the previous month, indicating that demand in the manufacturing market continued to fall.

The raw material inventory index was 47.6%, down 0.3 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 48.4%, down 0.4 percentage points from the previous month, indicating that the employment boom of manufacturing enterprises has declined.

The supplier delivery time index was 50.5%, up 0.2 percentage points from the previous month, indicating that the delivery time of raw material suppliers in the manufacturing industry continued to accelerate.

China's non-manufacturing purchasing managers' index operation, in May, the non-manufacturing business activity index was 5.54%, down 5.1 percentage points from the previous month, still above the critical point, and the non-manufacturing industry continued to recover growth.

By industry, the business activity index of the construction industry was 58.2%, down 5.7 percentage points from the previous month; the business activity index of the service industry was 53.8%, down 1.3 percentage points from the previous month. From the perspective of specific industries, the business activity index of railway transportation, water transportation, air transportation, telecommunications, radio and television and satellite transmission services, Internet software and information technology services is in the high economic range of more than 60.0%. The index of business activity in capital market services, real estate and other industries is below the critical point.

The new orders index was 49.5%, down 6.5 percentage points from the previous month and below the critical point, indicating that demand in the non-manufacturing market has declined. In terms of industries, the new orders index of the construction industry was 49.5%, down 4.0 percentage points from the previous month; the new orders index of the service industry was 49.5%, down 6.9 percentage points from the previous month.

The input price index was 47.4%, down 3.7 percentage points from the previous month, below the critical point, indicating that the overall level of input prices used by non-manufacturing enterprises for business activities turned from rising to falling. By industry, the input price index of the construction industry was 44.7%, down 3.4 percentage points from the previous month; the input price index of the service industry was 47.9%, down 3.8 percentage points from the previous month.

The sales price index was 47.6%, down 2.7 percentage points from the previous month and below the critical point, indicating that the overall level of non-manufacturing sales prices fell from the previous month. In terms of industries, the sales price index of the construction industry was 46.9%, down 4.6 percentage points from the previous month; the sales price index of the service industry was 47.8%, down 2.3 percentage points from the previous month.

The employment index was 48.4%, up 0.1 percentage points from the previous month, indicating that the employment boom of non-manufacturing enterprises has rebounded slightly. In terms of industries, the index of employees in the construction industry was 48.5%, up 0.2 percentage points from the previous month; the index of employees in the service industry was 48.3%, up 0.1 percentage points from the previous month.

The business activity expectation index was 60.4%, down 2.1 percentage points from the previous month, continuously in the high economic range, indicating that non-manufacturing enterprises continue to be optimistic about the recent market recovery. In terms of industries, the expected index of business activities in the construction industry was 62.1%, down 2.0 percentage points from the previous month; the expected index of business activities in the service industry was 60.1%, down 2.2 percentage points from the previous month.

In May, the comprehensive PMI output index was 5.52%, down 9.1 percentage points from the previous month, continuing to remain in the boom range, indicating that the overall production and operation of Chinese enterprises continued to recover the development trend. (Zhongxin Finance)