The manufacturing purchasing managers index in February was 49.1%, a decrease of 0.1 percentage points from the previous month.

　　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 operation of the China Purchasing Managers Index in February 2024.

Data show that in February, the manufacturing purchasing managers index (PMI) was 49.1%, a decrease of 0.1 percentage points from the previous month.

　　In terms of enterprise size, the PMI of large enterprises was 50.4%, the same as last month and higher than the critical point; the PMI of medium-sized enterprises was 49.1%, an increase of 0.2 percentage points from the previous month and lower than the critical point; the PMI of small enterprises was 46.4%, higher than the critical point. It fell by 0.8 percentage points last month, below the critical point.

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

　　The production index was 49.8%, down 1.5 percentage points from the previous month, indicating that manufacturing production activities have slowed down.

　　The new orders index was 49.0%, the same as last month and still below the critical point, indicating that manufacturing market demand has declined compared with last month.

　　The raw material inventory index was 47.4%, down 0.2 percentage points from the previous month, indicating that the inventory of major raw materials in the manufacturing industry continued to decrease.

　　The employment index was 47.5%, down 0.1 percentage points from the previous month, indicating that the employment prosperity of manufacturing companies has declined slightly.

　　The supplier delivery time index was 48.8%, a decrease of 2.0 percentage points from the previous month, indicating that the delivery time of manufacturing raw material suppliers was extended compared with the previous month.

Operation status of China's non-manufacturing purchasing managers index

　　In February, the non-manufacturing business activity index was 51.4%, an increase of 0.7 percentage points from the previous month and higher than the critical point, indicating that the pace of non-manufacturing expansion continues to accelerate.

　　In terms of industries, the business activity index of the construction industry was 53.5%, a decrease of 0.4 percentage points from the previous month; the business activity index of the service industry was 51.0%, an increase of 0.9 percentage points from the previous month.

From an industry perspective, the business activity index of industries such as road transportation, air transportation, catering, monetary and financial services, ecological protection and public facilities management, and culture, sports and entertainment are all in the relatively high boom range of above 55.0%; the business activity index of industries such as real estate and resident services is Continue below the critical point.

　　The new orders index was 46.8%, down 0.8 percentage points from the previous month, indicating that non-manufacturing market demand continued to decline.

In terms of industries, the new orders index of the construction industry was 47.3%, an increase of 0.6 percentage points from the previous month; the new orders index of the service industry was 46.7%, a decrease of 1.0 percentage points from the previous month.

　　The input price index was 50.6%, an increase of 1.0 percentage points from the previous month and higher than the critical point, indicating that the overall level of input prices used by non-manufacturing enterprises for business activities has rebounded.

In terms of industries, the input price index of the construction industry was 52.0%, the same as the previous month; the input price index of the service industry was 50.4%, an increase of 1.2 percentage points from the previous month.

　　The sales price index was 48.5%, down 0.4 percentage points from the previous month, indicating that the overall level of non-manufacturing sales prices has declined.

In terms of industries, the sales price index of the construction industry was 48.9%, a decrease of 1.5 percentage points from the previous month; the sales price index of the service industry was 48.4%, a decrease of 0.3 percentage points from the previous month.

　　The employment index was 47.0%, the same as last month and still lower than the critical point, indicating that the employment prosperity of non-manufacturing enterprises was similar to that of last month.

In terms of industries, the employee index in the construction industry was 47.6%, a decrease of 2.5 percentage points from the previous month; the employee index in the service industry was 46.9%, an increase of 0.5 percentage points from the previous month.

　　The business activity expectation index was 57.7%, down 2.0 percentage points from the previous month and still in a relatively high business range, indicating that non-manufacturing companies continue to be optimistic about the recent market development.

Looking at different industries, the construction industry business activity expectation index was 55.7%, a decrease of 6.2 percentage points from the previous month; the service industry business activity expectation index was 58.1%, a decrease of 1.2 percentage points from the previous month.

Operation status of China's Comprehensive PMI Output Index

　　In February, the comprehensive PMI output index was 50.9%, the same as last month and higher than the critical point, indicating that the overall production and operation activities of my country's enterprises continue to expand.