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In May, Manufacturing PMI Fell Slightly, But It Was Still On The Edge.

2020/6/3 12:02:00 0

Manufacturing Industry In May

According to the National Bureau of statistics, in May, China's Manufacturing Purchasing Managers Index (PMI) was 50.6%, down 0.2 percentage points from last month. Of the surveyed enterprises, 81.2% of the enterprises have reached more than 80% of the normal production level, while the manufacturing industry PMI has dropped slightly from last month, but it remains above the critical point.

From the scale of enterprises, the PMI of large enterprises was 51.6%, an increase of 0.5 percentage points from last month. The PMI of small and medium-sized enterprises was 48.8% and 50.8%, respectively, down 1.4 and 0.2 percentage points from last month.

According to the classification index, production index, new order index and supplier delivery time index are all higher than the critical point in the 5 classification indices of manufacturing PMI. Raw material inventory index and employment index are all below the critical point.

Production continues to recover. The production index was 53.2%, though 0.5 percentage points lower than last month, but higher than the critical point, indicating that manufacturing industry continued to improve. In the 21 industries surveyed, 14 manufacturing production indices were higher than the critical point, and 7 manufacturing industries such as textile, clothing and apparel were below the critical point. The supplier delivery time index was 50.5%, an increase of 0.4 percentage points from last month, indicating that the delivery time of manufacturing materials suppliers has accelerated. In addition, the employment index was 49.4%, down 0.8 percentage points from last month, indicating that manufacturing enterprises were less efficient than last month.

New orders have increased. The new order index was 50.9%, an increase of 0.7 percentage points from last month, and a decrease in the production index. In the 21 industries surveyed, 12 new orders index was higher than last month, and the new orders index of chemical fiber and other manufacturing industries rose to above the critical point, indicating that domestic related market demand has improved. The current global epidemic situation and the world economic situation are still grim and complicated, and foreign market demand has been shrinking. Among them, the new export orders index and import index were 35.3% and 45.3% respectively, although they rose 1.8 and 1.4 percentage points from last month, but they are at a relatively low level in history.

The price index has rebounded. The main raw material purchase price index and ex factory price index were 51.6% and 48.7% respectively, up 9.1 and 6.5 percentage points from last month, all of which are high in the past 4 months. The main raw material purchase price index has risen to above the critical point, and the purchasing price of raw materials has increased. In addition, raw material inventory index was 47.3%, down 0.9 percentage points from last month, indicating that the main raw material inventory of the manufacturing industry was reduced.

Corporate confidence is improving. Manufacturing enterprises' production and business activity expectations increased 3.9 percentage points from last month to 57.9%. Related industries in some industries are generally optimistic about the development trend of the industry in the next three months. In May, the composite PMI output index was 53.4%, unchanged from last month, indicating that the production and operation of Chinese enterprises improved steadily.

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