China News Service, March 1. According to the website of the National Bureau of Statistics, on March 1, 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, provided an interpretation.
In February, the manufacturing purchasing managers index was 49.1%, down 0.1 percentage points from the previous month; the non-manufacturing business activity index was 51.4%, up 0.7 percentage points from the previous month; the comprehensive PMI output index was 50.9%, down from the previous month remained flat, and my country's economy generally continued to expand.
Manufacturing purchasing managers index fell slightly
In February, due to the Spring Festival holiday, the manufacturing industry was in the traditional production off-season. In addition, after the epidemic prevention and control stabilized, more and more employees returned home during the holidays. The production and operation of enterprises were greatly affected, and the overall activity of the manufacturing market declined. Manufacturing The industry PMI dropped slightly by 0.1 percentage points from the previous month.
(1) The production and demand index fell and then remained flat.
The production index was 49.8%, down 1.5 percentage points from the previous month, and corporate production activities have slowed down; the new orders index was 49.0%, the same as the previous month.
From an industry perspective, the two indexes of food and alcoholic beverages and refined tea, medicine, non-ferrous metal smelting and rolling processing, and electrical machinery and equipment have been above the critical point for two consecutive months; chemical fiber and rubber plastic products, ferrous metal smelting and rolling Both indices for processing and other industries are below the critical point.
(2) The PMI of large enterprises continues to be higher than the critical point.
The PMI of large enterprises was 50.4%, the same as last month, and continues to be in the expansion range. The production index and new order index have remained above the critical point for 10 consecutive months; the PMI of medium-sized enterprises was 49.1%, an increase of 0.2 percentage points from the previous month; small enterprises Enterprises were more obviously affected by the Spring Festival holiday. This month's PMI was 46.4%, down 0.8 percentage points from the previous month, and production and operation activities slowed down.
(3) High-tech manufacturing industry maintains expansion.
The high-tech manufacturing PMI was 50.8%, down 0.3 percentage points from the previous month, remaining in the expansion range for four consecutive months, and the industry continued its growth trend; the equipment manufacturing and consumer goods industry PMIs were 49.5% and 50.0% respectively, down from the previous month. 0.6 and 0.1 percentage points, the prosperity level has declined; the PMI of high energy-consuming industries was 47.9%, an increase of 0.3 percentage points from the previous month, and the prosperity level has rebounded from a low level.
(4) Enterprise expectations are stable.
The expectation index for production and operating activities was 54.2%, an increase of 0.2 percentage points from the previous month, indicating that companies have increased confidence in market development after the Spring Festival.
From an industry perspective, the expected index of production and operation activities in industries such as wood processing and furniture, automobiles, railways, ships, aerospace equipment, and electrical machinery and equipment are all in the high-prosperity range above 58.0%, and companies have strong confidence in the development of the industry.
Non-manufacturing business activity index expansion accelerated
In February, the non-manufacturing business activity index was 51.4%, an increase of 0.7 percentage points from the previous month. The pace of non-manufacturing expansion continued to accelerate.
(1) The service industry is recovering.
The business activity index of the service industry was 51.0%, an increase of 0.9 percentage points from the previous month, indicating that the expansion of the service industry has increased.
From an industry perspective, driven by factors such as the Spring Festival holiday, the production and operation of industries closely related to holiday travel and consumption are relatively active. Among them, the business activity index of retail, railway transportation, road transportation, catering, ecological protection and public facilities management is at 53.0% Above; the business activity index of industries such as air transportation, monetary and financial services, culture, sports and entertainment is located in the high-prosperity range above 60.0%, and the total business volume is growing rapidly.
At the same time, the business activity index of real estate, residential services and other industries continues to be below the critical point, and the prosperity level is low.
In terms of market expectations, the business activity expectation index was 58.1%, down 1.2 percentage points from the previous month, and continued to be in a relatively high prosperity range, indicating that most service industry companies continue to be optimistic about the recent market development.
(2) The construction industry continues to expand.
Affected by factors such as the Spring Festival holiday and low temperature, rain and snow weather, the construction industry business activity index was 53.5%, down 0.4 percentage points from the previous month, still in the expansion range, and the construction industry as a whole continued to grow.
From the perspective of market expectations, the business activity expectation index is 55.7%, which continues to be in a relatively high prosperity range, indicating that construction industry companies remain optimistic about future industry development.
Composite PMI output index expanded steadily
In February, the comprehensive PMI output index was 50.9%, the same as last month, indicating that the overall production and operation activities of my country's enterprises continued to expand.
The manufacturing production index and non-manufacturing business activity index that make up the comprehensive PMI output index were 49.8% and 51.4% respectively.