China's manufacturing business sentiment index this month has fallen modestly, but has surpassed the milestones of economic judgment for 10 consecutive months, indicating that China's economy continues to pick up.
Every month, the National Bureau of Statistics of China publishes the Manufacturing PMI = Purchasing Manager Business Confidence Index, which surveys 3,000 manufacturing companies.
This month's manufacturing PMI announced on the 31st was 51.9, down 0.2 points from last month, but surpassing 50, the milestone of economic judgment.
This is due to the high levels of both production and new orders in a wide range of industries such as computers and telecommunications equipment, and the fact that the index showing orders for new exports also exceeded the milestone level.
China's manufacturing PMI fell to its lowest level since 2005, when data can be confirmed, in February due to the spread of the new coronavirus infection, but it has been a milestone for 10 consecutive months since then. It is above the standard and reflects the recovery of the Chinese economy.
Meanwhile, according to the index by company size, small companies fell 1.3 points from last month to 48.8, and authorities expressed concern that rising raw material and logistics costs are squeezing corporate profits. The issue is the difference in the degree of recovery depending on the size of the company.