National Bureau of Statistics: China's manufacturing PMI was 51.0% in August, a slight drop from the previous month

　　China News Service, August 31. The National Bureau of Statistics website announced on the 31st the operation of China's Purchasing Managers Index in August 2020. In August, the Purchasing Managers Index (PMI) of China's manufacturing industry was 51.0%, a slight decrease of 0.1 percentage point from the previous month, indicating that the overall manufacturing industry was operating smoothly.

　　In terms of enterprise scale, the PMI of large enterprises was 52.0%, which was the same as last month; the PMI of medium-sized enterprises was 51.6%, which was an increase of 0.4% from the previous month; the PMI of small enterprises was 47.7%, which was a decrease of 0.9% from the previous month.

　　In terms of sub-indices, 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 53.5%. Although it fell 0.5 percentage points from the previous month, it was still above the threshold, reflecting the increase in manufacturing output compared with the previous month.

　　The new order index was 52.0%, an increase of 0.3 percentage points from the previous month, and it rebounded for 4 consecutive months, indicating that the manufacturing market demand continued to recover.

　　The raw material inventory index was 47.3%, a decrease of 0.6 percentage points from the previous month, indicating that the manufacturing industry's main raw material inventory continued to decrease.

　　The employment index was 49.4%, a slight increase of 0.1 percentage point from the previous month, indicating that the employment boom of manufacturing enterprises was basically stable.

　　The supplier delivery time index was 50.4%, the same as last month, and above the threshold, indicating that the delivery time of manufacturing raw material suppliers is still accelerating.

　　In August, the non-manufacturing business activity index was 55.2%, an increase of 1.0 percentage point from the previous month, and was above the threshold for six consecutive months.

　　In terms of different industries, the construction business activity index was 60.2%, a decrease of 0.3 percentage points from the previous month. The service industry business activity index was 54.3%, an increase of 1.2 percentage points from the previous month. In terms of industry categories, the business activity index of railway transportation, air transportation, accommodation, telecommunications, broadcasting, television and satellite transmission services is above 60.0%, and the business activity index of capital market services, real estate and other industries is below the critical point.

　　The new order index was 52.3%, an increase of 0.8 percentage points from the previous month, indicating that the non-manufacturing market demand continued to pick up. In terms of different industries, the construction industry new order index was 56.4%, an increase of 1.8 percentage points from the previous month; the service industry new order index was 51.5%, an increase of 0.5 percentage points from the previous month.

　　The input price index was 51.9%, a decrease of 1.1 percentage points from the previous month, and was above the threshold, indicating that the overall increase in input prices used by non-manufacturing enterprises for business activities has narrowed. In terms of different industries, the input price index of the construction industry was 52.6%, a decrease of 2.4 percentage points from the previous month; the input price index of the service industry was 51.7%, a decrease of 1.0 percentage points from the previous month.

　　The sales price index was 50.1%, the same as last month, and above the threshold, indicating that the overall non-manufacturing sales price rose slightly. In terms of different industries, the construction industry sales price index was 52.2%, an increase of 0.9 percentage points from the previous month; the service industry sales price index was 49.8%, a slight decrease of 0.1 percentage points from the previous month.

　　The employment index was 48.3%, an increase of 0.2 percentage points from the previous month, indicating that the non-manufacturing employment boom has improved. In terms of different industries, the construction industry employment index was 54.2%, a decrease of 2.0 percentage points from the previous month; the service industry employment index was 47.2%, an increase of 0.5 percentage points from the previous month.

　　The business activity expectation index was 62.1%, a slight decrease of 0.1 percentage point from the previous month, and was above the threshold, indicating that non-manufacturing enterprises have stable development confidence. In terms of different industries, the construction industry business activity expectation index was 66.6%, an increase of 0.3 percentage points from the previous month; the service industry business activity expectation index was 61.3%, a slight decrease of 0.1 percentage point from the previous month.

　　In August, the comprehensive PMI output index was 54.5%, an increase of 0.4 percentage points from the previous month, indicating that the production and operation activities of Chinese enterprises continued to recover.