Purchasing managers' index is an internationally accepted indicator of macroeconomic advance monitoring and early warning, usually 50 percent as the critical value of economic strength, higher than 50 percent , reflecting economic expansion; Anything below 50 per cent reflects economic contraction.
The China Federation of Logistics and Purchasing and the Service Industry Survey Center of the National Bureau of Statistics released the China Manufacturing Managers Index for August today (31). Manufacturing purchasing managers index rose for three consecutive months, market supply and demand picked up, the economy continued to recover steadily, business expectations are more optimistic, the momentum of economic recovery will be further consolidated.
In August, China's manufacturing purchasing managers' index stood at 49.7 percent , up 0.4 percentage points from the previous month and rising for three consecutive months. Among the 21 industries surveyed, 12 industries' purchasing managers' index rose month-on-month, and the manufacturing industry's climate improved further.
From the sub-index, the new orders index in August was 50.2 percent , up 0.7 percentage points from the previous month, and returned to the expansion range after running below 50 percent for four consecutive months. From the trend of the index, the new orders index also rose for three consecutive months, showing that the internal momentum of the economy tends to strengthen. In addition, the new export orders index also showed a positive change, ending a five-month decline. From the perspective of the industry, the demand release in August is mainly prominent equipment manufacturing and consumer goods manufacturing.
CAI Jin, Vice president of China Federation of Logistics and Purchasing: The rebound of the index for three consecutive months reflects that the sustained and stable recovery of China's economy is further obvious. Especially from the index situation in August, the index of new orders reflecting demand has rebounded more obviously, and has recovered to more than 50 percent of such an expansion range, indicating that the entire economy in the process of growth in this endogenous driving force is further enhanced.
As market demand increased steadily and the impact of extreme weather subsided, enterprises' willingness to produce strengthened and production growth accelerated. The production index in August was 51.9 percent , up 1.7 percentage points from the previous month, a more significant increase.
From the perspective of enterprise market expectations, the expected index of production and operation activities in August was 55.6 percent , up 0.5 percentage points from the previous month, and it has been running above 55 percent for two consecutive months.
Huo Lihui, Director of the Business Prosperity Department of the Service Industry Survey Center of the National Bureau of Statistics: It shows that with the recent intensive introduction of a series of macro-control policy measures, enterprises have increased confidence in the recent market development. From the perspective of the industry, in addition to the textile industry, the expected index of production and operation activities of other industries is located in the boom zone, especially the expected index of production and operation activities of agricultural and sideline food, processing, automobile and other industries, located at more than 60 percent of the high boom zone, enterprises are still relatively optimistic about the recent development of the industry.
