Source: Statistics WeChat
I. Operation of the China Manufacturing Purchasing Managers' Index
In June, the manufacturing purchasing managers' index (PMI) was 49.5%, the same as last month, and the manufacturing boom was basically stable.
In terms of enterprise size, the PMI for large enterprises was 50.1%, down 0.6 percentage points from the previous month; the PMI for small and medium-sized enterprises was 49.8% and 47.4%, respectively, up 0.4 and 0.7 percentage points from the previous month.
Looking at the classification index, among the five classification indices that make up the manufacturing PMI, the production index is above the critical point, while the new orders index, raw material inventory index, employee index, and supplier delivery time index are below the critical point.
The production index was 50.6%, down 0.2 percentage points from the previous month, above the critical point, indicating that manufacturing companies' production continued to expand.
The new orders index was 49.5%, down 0.1 percentage points from the previous month, indicating a slight decline in demand in the manufacturing market.
The raw material inventory index was 47.6%, down 0.2 percentage points from the previous month, indicating that stocks of major raw materials in the manufacturing industry continued to decline.
The employee index was 48.1%, the same as last month, indicating that the employment situation of manufacturing enterprises is generally stable.
The supplier delivery time index was 49.5%, down 0.6 percentage points from the previous month, indicating that the delivery time of raw material suppliers in the manufacturing industry has been extended compared to the previous month.
II. Operation of China's Non-Manufacturing Purchasing Managers' Index
In June, the non-manufacturing business activity index was 50.5%, down 0.6 percentage points from the previous month, above the critical point, and the non-manufacturing industry continued to expand.
By industry, the index of business activity in the construction industry was 52.3%, down 2.1 percentage points from the previous month; the index of business activity in the service sector was 50.2%, down 0.3 percentage points from the previous month. From an industry perspective, the index of business activity in industries such as air transportation, postal services, telecommunications, radio and television, and satellite transmission services, monetary and financial services, and insurance is in a high boom range above 55.0%; the index of business activity in capital market services, real estate and other industries is below the critical point.
The new orders index was 46.7%, down 0.2 percentage points from the previous month, indicating a slight decline in demand in the non-manufacturing market. By industry, the index of new orders in the construction industry was 44.1%, the same as last month; the index of new orders in the service sector was 47.1%, down 0.3 percentage points from the previous month.
The input price index was 49.6%, down 0.1 percentage points from the previous month, indicating that the overall level of input prices used by non-manufacturing enterprises for business activities has declined. By industry, the construction industry input price index was 51.7%, down 1.9 percentage points from the previous month; the service industry input price index was 49.3%, up 0.3 percentage points from the previous month.
The sales price index was 47.6%, down 0.2 percentage points from the previous month, indicating that the overall level of non-manufacturing sales prices continued to decline. By industry, the sales price index for the construction industry was 49.0%, down 0.7 percentage points from the previous month; the sales price index for the service industry was 47.4%, down 0.1 percentage points from the previous month.
The employee index was 45.8%, down 0.4 percentage points from the previous month, indicating a decrease in the employment sentiment of non-manufacturing enterprises. By industry, the index of workers in the construction industry was 42.9%, down 0.4 percentage points from the previous month; the index of workers in the service sector was 46.3%, down 0.4 percentage points from the previous month.
The expected business activity index was 57.2%, up 0.3 percentage points from the previous month. It continues to be in a high boom range, indicating that non-manufacturing companies remain optimistic about market development prospects. By industry, the expected index of business activity in the construction industry was 54.7%, down 1.6 percentage points from the previous month; the expected index of business activity in the service sector was 57.6%, up 0.6 percentage points from the previous month.
III. Operation of China's Composite PMI Output Index
In June, the composite PMI output index was 50.5%, down 0.5 percentage points from the previous month, above the critical point, indicating that the overall production and operation activities of Chinese enterprises continued to expand.
Editor/Somer