PMI of the hottest manufacturing and non manufactu

2022-08-21
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Manufacturing and non manufacturing PMI rose slightly in February

manufacturing PMI rose slightly in February, indicating that the steady-state trend of the economy is further obvious; PMI of non manufacturing industry continues to be in a high boom range, indicating that the non manufacturing industry generally maintains a steady expansion trend. The PMI of the manufacturing industry rebounded slightly in February, indicating that the steady-state trend of the economy is further obvious; PMI of non manufacturing industry continues to be in a high boom range, indicating that the non manufacturing industry generally maintains a steady expansion trend. On the whole, with the production and operation activities of enterprises returning to normal after the holiday, China's economic trend is expected to gradually bottom out and stabilize. Some experts suggested that given that the manufacturing PMI is still at a phased low point, macro-control still needs to place steady growth in an important position, and policies and measures should be more positive

on March 1, the data jointly released by the service industry survey center of the National Bureau of Statistics and the China Federation of logistics and purchasing showed that in February 2015, China's Manufacturing Purchasing Managers' index (PMI) was 49.9%, a slight increase of 0.1 percentage points over the previous month; The non manufacturing business activity index was 53.9%, up 0.2 percentage points from the previous month

the contraction of the manufacturing industry narrowed

the data showed that in February, the purchasing managers' index of China's manufacturing industry was 49.9%, a slight increase of 0.1 percentage points over the previous month, but it was still below the boom and bust line

Zhang Liqun, a macroeconomic researcher at the development research center of the State Council, analyzed that the low PMI index rose slightly in February, indicating that the steady-state trend of economic growth is further evident. Considering the influence of Spring Festival, China's economic growth is still in the process of bottoming out and stabilizing

historical data show that most of the PMI fell in the month of the Spring Festival, but PMI rose slightly this month, ending the downward trend for four consecutive months. Zhaoqinghe, Senior Statistician of the service industry survey center of the National Bureau of statistics, analyzed that PMI picked up slightly this month. On the one hand, it was due to the rebound in market demand and the strengthening of enterprise confidence under the recent macro policies of reducing reserve requirements, reducing taxes and fees, and increasing key infrastructure construction; On the other hand, the price of international crude oil and other bulk products has stabilized recently, and there have been some positive changes in the domestic market environment. Although the purchase price index of main raw materials is still below the critical point, it has rebounded for the first time after falling for six consecutive months

it is worth noting that although PMI is still slightly below the critical point, from the perspective of specific indicators, production and market demand continue to expand, while PMI of small enterprises has also rebounded. Affected by the Spring Festival, the production index fell 0.3 percentage points to 51.4% from the previous month, but the decline narrowed and continued to be in the expansion range. The new order index was 50.4%, up 0.2 percentage points from the previous month, the first rebound since August 2014, and the growth rate of market demand has accelerated. Although the PMI of small enterprises is below the critical point, it has rebounded for two consecutive months, and the contraction range continues to narrow. After the festival, with the centralized construction of enterprises, the supply and demand of the manufacturing market will become active. Said chenzhongtao, deputy chief economist of China Logistics Information Center

the non manufacturing industry maintained a steady growth

in February 2015, the business activity index of China's non manufacturing industry was 53.9%, up 0.2 percentage points from the previous month, and continued to be in a high boom range, indicating that the testing industry responsible for non manufacturing certification in China generally maintained a steady expansion trend

among the individual indexes of China's non manufacturing business activity index, new orders, orders on hand, inventory, input prices and sales price indexes have increased compared with the previous month. Among them, the input price index increased by 4.9 percentage points over the previous month, and the sales price index increased by 4.3 percentage points over the previous month; The other individual indexes showed a decline, ranging from 0.1 to 1.2 percentage points

the non manufacturing business activity index has been running smoothly at about 53% for three consecutive months, indicating that the service industry has shown a good momentum of development. Zhao Qinghe analyzed that the characteristics of holiday consumption in February were prominent, and the total business volume of retail, catering, telecommunications, air transportation, road transportation and other industries increased rapidly, which was one of the main factors for the rebound of the business activity index of the service industry

festivals and infrastructure demand jointly contribute to the growth of market demand, and non manufacturing industries maintain a steady growth pattern. Wu Wei, an expert from China Logistics Information Center, said that the business activity index and new order index of the service industry both rebounded in February. The strong performance of service industry activities related to holiday consumption has become the main driving force for the recovery of the service industry

according to the data, in February, the business activity index of the catering industry rose to 60%, with a significant increase, reaching a new high in the past two years; Retail activities continued to heat up. The business activity index and new order index have been running at a high level for three consecutive months, and have rebounded significantly this month

according to the monitoring data of the Ministry of Commerce, retail and catering enterprises nationwide achieved sales of about 678billion yuan during the Spring Festival, an increase of 11% over the golden week of the Spring Festival last year. Among them, the sales of traditional new year goods, clothing, gold and silver jewelry, digital information products and other commodities are relatively fast. Cold rolling is made of hot-rolled coils and rolled under the recrystallization temperature at room temperature. Cold rolled steel plate is the steel plate produced through the cold rolling process, referred to as cold plate growth, and the sales of high-end cigarettes, alcohol and gift boxes are cold. In addition, tourism activities also showed the momentum of accelerating growth

these data also show that the armor newly developed by Chinese residents not only has excellent bulletproof performance, but also has entered the consumption upgrading stage characterized by diversification. Wu Wei said

the economic trend is expected to bottom out and stabilize

in February, affected by the Spring Festival, the production and business activities of enterprises slowed down. However, Chen Zhongtao believes that on the whole, the economic operation shows signs of improvement. Boosted by the favorable policies, enterprises are expected to generally improve, especially the decline in the production and operation activities of small enterprises is restrained; In addition, the production and business activities of enterprises have returned to normal after the festival, and the economic trend is expected to gradually bottom out and stabilize

from the perspective of enterprise orders, in February, the new order index reversed the decline for six consecutive months, rising 0.2 percentage points to 50.4%. The rise of enterprise orders is driven by the holiday effect and the gradual effect of policies and measures to stabilize growth. Chen Zhongtao analyzed that the new order index of large enterprises increased by 0.8 percentage points, and the new order index of small enterprises rebounded particularly, with an increase of more than 3 percentage points. Small enterprises are closely linked to market terminal demand, and their new order index has rebounded significantly, indicating that the market situation is improving

the production and operation activities of small enterprises have also rebounded. In February, although the PMI index of small enterprises was still below 50%, it increased significantly, reaching 48.1%, up 1.7 percentage points, the most obvious increase in the past four months. The production index of small enterprises and the new order index both rebounded significantly, with an increase of more than 2 percentage points

the survey results also showed that in February, the expected index of enterprise production and operation activities increased significantly, reaching 54%, an increase of 6.6 percentage points. Most enterprises believe that as the policy effect appears, the economic operation has gradually bottomed out and stabilized after the second quarter

from the perspective of non manufacturing industry, in February, although business activities in the construction industry were slightly affected by the off-season, market demand increased significantly. Wu Wei analyzed that at the beginning of the new year, the increase in the market demand of the construction industry indicates that the market space for steady economic growth in the future will be gradually opened, especially the infrastructure investment will become the entry point for the steady growth of heavy enterprises to gradually improve the utilization rate of existing capacity

driven by the centralized approval of infrastructure projects by the national development and Reform Commission, local governments also take the layout of major infrastructure projects as the top priority of government work in the new year. Therefore, in the first half of the year, infrastructure construction will usher in a relatively concentrated release period, and its pulling effect on stabilizing economic growth will continue to appear. Wu Wei said

Chen Zhongtao said that although the economic operation shows signs of positive changes, the later trend remains to be observed. Especially since the manufacturing PMI is still at a phased low point, slightly lower than 50%, the economic trend is weak. Therefore, macro-control still needs to place stable growth in an important position, and relevant policies and measures should be more positive

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