Recovery is accelerating! PMI has been above the threshold for 9 consecutive months

Original title: Recovery Accelerates! PMI has been above the threshold for consecutive September

　　National Statistical OfficeServiceIndustry Research Center andChina Federation of Logistics and PurchasingThe China Purchasing Managers Index released yesterday showed that in November ChinamanufacturingPurchasing managers index, non-manufacturing business activity index andSMEsThe three main production indices are at their highest for the year and have been above the threshold for nine consecutive months. Among them, the manufacturing PMI has set high since September 2017.companyExpectations about the market outlook are also relatively optimistic: the expected index of production and operating activities increased by 0.8 percentage points from the previous month to 60.1%, which was the first time this year to exceed 60% .

Zhao Qinghe, a senior statistician with the Service Industry Survey Center of the National Bureau of Statistics, also noted that the survey results also show that the recovery of the manufacturing industry remains uneven.Textile and clothingThe garment industry PMI has always been below the critical point this year, and the industry’s prosperity remains weak. Further,To exportReflected in the companyRMBexchange rateThe proportion of companies affected by volatility was 18.8%, 1.7 percentage points more than last month; some companies said that with the recent appreciation of the renminbi,Business benefitsUnder pressure, export orders have declined.

　　Several indices reached new highs during the year

In November, China’s manufacturing purchasing managers index, non-manufacturing business activity index, and comprehensive production PMI index were 52.1%, 56.4%, and 55.7%, respectively, 0.7, 0 , 2 and 0.4 percentage points more than last month.Zhao Qinghe, a senior statistician with the Service Industry Survey Center of the National Bureau of Statistics, said that in the manufacturing PMI, several sub-indices are commonto get better,manufacturingmarketVitality has been further enhanced and recovery growth has accelerated significantly.

Several manufacturing indices reached new highs during the year, for example, the production index and the new orders index were 54.7% and 53.9%, which were 0.8 and 1.1 percentage points higher than the month last, and both reached the peak of the year; the index of new export orders and the index of imports were 51.5% and 50.9%, respectively. The 0.5 and 0.1 percentage points of last month were maximum during the year and were in the expansion range for three consecutive months, maintaining a monthly upward trend;Raw MaterialsPurchasepriceIndex sumFactory priceThe index was 62.6% and 56.5%, 3.8 and 3.3 percentage points higher than last month, and both were highest during the year. This month, the production and operating activity expectations index increased by 0.8 percentage points from the previous month to 60.1%, and rose to more than 60% for the first time during the year, indicating that the companies are also optimistic about the market prospects.

　　Small Business PMI Returns to Economic Zone

The data shows that the PMI of large, medium and small companies was 53.0%, 52.0% and 50.1%, respectively, 0.4, 1.4 and 0.7 percentage points higher than the month passed, and all were above the threshold. This means that from the perspective of companies of different sizes, prosperity has also recovered. Zhao Qinghe said that the production and operating conditions of small companies have improved this month. The proportion of small businesses reflecting capital shortages is 42.3%, which is 2.6 percentage points less than last month. It is the lowest point since the beginning of this year. Financing for small and micro enterprisesSupport forThe effects of other policy measures have appeared.

ChinaLogistics informationCenter researcher Wen Tao said that in November the momentum of economic recovery increased, the balance of economic operations improved, and the foreign trade market remained stable. At the same time, the market price linkage increases, which helps companies to digestcostPressure.

Special contract with China Logistics Information CenterAnalystZhang Liqun pointed out that excluding the impact of the November long holidays from the September-November trend, the manufacturing PMI index has risen steadily, indicating that the economy shows a sustained and stable recovery. The prices of raw materials such as coal and steel in the upstream have increased significantly, and the purchase price and the ex-factory price index have increased significantly. You may indicate downstreamindustryThe recovery in production began to drive upstream industries, allIndustrial chainThe recovery characteristics tend to be obvious. From the corresponding survey, the problem of insufficient demand is still common, and the real effect of the policy to expand domestic demand should continue to be enhanced.

(Source: Fortune Power Network)

(Responsible editor: DF524)