Data Analysis: China'S Manufacturing PMI Was 50.1% In October, Returning To The Expansion Range

The Service Industry Survey Center of the National Bureau of Statistics and the China Federation of Logistics and Purchasing released data on October 31. In October, China's manufacturing purchasing managers' index (PMI) was 50.1%, up 0.3 percentage points from the previous month, and the manufacturing boom level rebounded.

"With the accelerated introduction of a package of incremental policies and the gradual appearance of the effects of the existing stock policies, China's economic prosperity level continues to pick up. In October, the manufacturing purchasing managers' index, the non manufacturing business activity index and the comprehensive PMI output index were 50.1%, 50.2% and 50.8% respectively, up 0.3, 0.2 and 0.4 percentage points over the previous month. All three indexes were above the critical point. " Zhao Qinghe, senior statistician of the Service Industry Survey Center of the National Bureau of Statistics, said.

Statistics show that in October, the production index was 52%, up 0.8 percentage points from the previous month, and the production expansion of manufacturing enterprises accelerated. The index of new orders was 50%, up 0.1 percentage points from the previous month, reaching the critical point. Influenced by the recent price rise of some bulk commodities and other factors, the purchase price index of main raw materials and the ex factory price index were 53.4% and 49.9%, respectively, up 8.3 and 5.9 percentage points over the previous month, and the overall price level of the manufacturing market improved significantly.

From the perspective of enterprise scale, the PMI of large enterprises was 51.5%, up 0.9 percentage points over the previous month, and the prosperity level rose steadily; The PMI of medium-sized enterprises was 49.4%, up 0.2 percentage points over the previous month, and the prosperity level continued to improve; The PMI of small enterprises was 47.5%, down 1 percentage point from the previous month, and the prosperity level fell back.

From the perspective of market expectations, in October, the expected index of production and business activities was 54%, up 2 percentage points from the previous month, the highest point in nearly four months, indicating that with the accumulation of positive factors promoting the economic recovery, enterprise confidence has increased.

(Source: Xinhua News Agency, Chinese government website)