December 23, 2024

China's Manufacturing Purchasing Managers Index increased by 2.1 percentage points from last month

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In March 2012, China's Manufacturing Purchasing Managers' Index (PMI) was 53.1%, up 2.1 percentage points from the previous month and continuing to be above the critical point. From the overall situation of China's manufacturing industry in March, the market demand has rebounded significantly, production growth has accelerated, and corporate procurement activities have become more active, especially in the industries related to equipment manufacturing. This indicates that the manufacturing economy has generally maintained a growth trend.

In terms of scale of the company, the PMI of large-scale enterprises is 54.3%, which is 3.4 percentage points higher than that of the previous month. This is a major factor in the rebound of the manufacturing PMI; the medium-sized enterprise PMI is 50.4%, up 0.9 percentage points from the previous month; the small-scale enterprise PMI is 50.9. %, a 4.3 percentage point drop from the previous month, indicating that small-scale enterprises are more sensitive to changes in the external environment, and their production and operation status are not stable enough.

In March 2012, among the five sub-indices that make up the manufacturing PMI, except for the supplier's delivery time index, other indexes have increased to varying degrees.

The production index was 55.2%, an increase of 1.4 percentage points from the previous month, which was the highest point since May 2011. March was the traditional peak season for manufacturing industries. The production activities of enterprises were relatively active. The production volume continued to grow and the growth rate accelerated. According to the survey results, 46.2% of the enterprises this month considered the production volume to increase month-on-month, an increase of 11.4 percentage points from the previous month. From the perspective of the industry, the production volume of the tobacco products industry, automobile manufacturing industry, electrical machinery and equipment and other manufacturing industries, non-metallic mineral products industry, general equipment manufacturing industry, pharmaceutical manufacturing industry, etc. increased significantly; petroleum processing and coking industry, and timber The production index of processed wood, bamboo, rattan and palm grass products and furniture manufacturing, ferrous metal smelting and rolling processing industries were below the critical point for two consecutive months, and the production volume of enterprises continued to decline.

The new orders index was 55.1%, a sharp rebound of 4.1 percentage points from the previous month. It was above the critical point for three consecutive months, indicating that the demand for the manufacturing industry has obviously risen. From the industry perspective, the number of new orders in the general equipment manufacturing industry, automobile manufacturing industry, electrical machinery and equipment manufacturing and other manufacturing industries, tobacco products industry, non-metallic mineral products industry, pharmaceutical manufacturing industry, etc. increased significantly; the wood processing The market demand for products and furniture manufacturing, textiles, chemical fiber manufacturing and rubber and plastics products declined. According to another survey, the export order index reflecting the foreign trade of manufacturing industry was 51.9%, which was 0.8 percentage point higher than last month. It remained above the critical point for two consecutive months, indicating that the volume of exports of manufacturing products continued to rebound. According to the survey data, the driving force for export growth this month was mainly from the rise of railway ship aerospace and other transportation equipment manufacturing, electrical machinery and equipment manufacturing and other manufacturing industries, automobile manufacturing, and metal products industries. The import index was 51.5%, which was 0.7 percentage points higher than the previous month. It was the highest level in the past year, and the import volume of major raw materials for manufacturing continued to increase month-on-month for two consecutive months.

The inventory index of major raw materials was 49.5%, which was 0.7 percentage points higher than that of the previous month. It was below the critical point for 11 consecutive months, indicating that the inventory of major raw materials in the manufacturing industry has continued to fall, but the decline has narrowed. From the perspective of the industry, major raw material inventories in the papermaking and printing industry, cultural, sports, entertainment, manufacturing, textile and apparel, leather, feather, down products and footwear, pharmaceutical manufacturing, food manufacturing, wine and refined tea manufacturing industries, etc. The chain increased; the major raw material inventory indexes of the petroleum processing and coking industry, ferrous metal smelting and rolling processing industry, and textile industry were all below the critical point.

The employee index was 51.0%, which was an increase of 1.5 percentage points from the previous month. After falling below the critical point for 5 consecutive months, it jumped to above 50% this month, indicating that the market demand and the gradual expansion of production led to the manufacturing industry. The employment of enterprises has increased. From the perspective of the industry, agricultural and non-staple food processing industry, general equipment manufacturing industry, textile and apparel apparel leather feathers and feather products and footwear industry, non-ferrous metal smelting and rolling processing industry, railway ship aerospace and other transportation equipment manufacturing industry employees The number is showing a growing trend; the demand for labor in wood processing, bamboo, rattan, palm grass products and furniture manufacturing, special equipment manufacturing, and textile industries has decreased.

The supplier delivery time index was 48.9%, which was a decrease of 1.4 percentage points from the previous month, which was lower than the critical point, indicating that the delivery time of manufacturing material suppliers has slowed down compared with the previous month.

In addition, the major raw material purchase price index was 55.9%, which was a 1.9 percentage point increase from the previous month. The index has been rising for four consecutive months, the highest point since October 2011, indicating that the purchase price of major raw materials for manufacturing continues Rising, corporate procurement costs continue to increase. From the perspective of the industry, the purchase of major raw materials for petroleum processing and coking, chemical materials and chemical manufacturing, wood processing, bamboo and rattan palm grass products and furniture manufacturing, agricultural and non-staple food processing, non-ferrous metal smelting and rolling processing industries The price chain increased significantly from the previous month, in which the purchase price index for major raw materials in the petroleum processing and coking industries has been above 82% for 2 consecutive months; the purchase price index for major raw materials in the chemical fiber and rubber-plastics and general equipment manufacturing industries has fallen below the critical point. The cost of corporate procurement has decreased.

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