According to the official website of the National Bureau of Statistics, htmlIn December, the manufacturing purchasing managers index (PMI) was 47.0%, down 1.0 percentage points from the previous month and below the critical point. The level of manufacturing production and operation prosperity has declined compared with the previous month.
In terms of enterprise size, the PMI of large, medium and small enterprises were 48.3%, 46.4% and 44.7% respectively, down 0.8, 1.7 and 0.9 percentage points from the previous month, all below the critical point.
Looking at the sub-indices, the five sub-indices that make up the manufacturing PMI are all below the critical point. The
production index was 44.6%, a decrease of 3.2 percentage points from the previous month, indicating that manufacturing production continued to decline. The
new order index was 43.9%, a decrease of 2.5 percentage points from the previous month, indicating that the manufacturing market demand continues to decrease. The
raw material inventory index was 47.1%, an increase of 0.4 percentage points from the previous month, indicating that the decline in the inventory of major raw materials in the manufacturing industry has narrowed.
The employment index was 44.8%, a decrease of 2.6 percentage points from the previous month, indicating that the employment prosperity of manufacturing enterprises has declined. The
supplier delivery time index was 40.1%, a decrease of 6.6 percentage points from the previous month, indicating that the delivery time of manufacturing raw material suppliers has been extended.
In addition, in December, the non-manufacturing business activity index was 41.6%, down 5.1 percentage points from the previous month, below the critical point, and the non-manufacturing business boom level has declined.
Zhao Qinghe, a senior statistician at the Service Industry Survey Center of the National Bureau of Statistics, explained this.
In December, affected by factors such as the impact of the epidemic, China's purchasing managers' index declined from the previous month. The manufacturing purchasing managers' index, non-manufacturing business activity index and comprehensive PMI output index were 47.0%, 41.6% and 42.6% respectively. my country's economic prosperity has generally declined.
1. The manufacturing purchasing managers index was lower than the previous month
In December, the manufacturing PMI dropped to 47.0%, down 1.0 percentage points from the previous month.
(1) Both production and demand have declined. The epidemic has had a great impact on corporate production and demand, personnel arrivals, and logistics and distribution. In December, 56.3% of the manufacturing companies surveyed reported that they were severely affected by the epidemic, which was 15.5 percentage points higher than the previous month. The production index and new order index were 44.6% and 43.9% respectively, which were 3.2 and 2.5 percentage points lower than last month. Manufacturing production activities continued to slow down and product orders declined. At the same time, the supplier delivery time index dropped to 40.1%. Some surveyed companies reported that due to the impact of the epidemic, there was a shortage of logistics and transportation manpower, and the delivery time has been extended. The price indices of
(2) all rebounded. The main raw material purchase price index was 51.6%, 0.9 percentage points higher than last month. The overall level of manufacturing raw material purchase prices increased; the ex-factory price index was 49.0%, 1.6 percentage points higher than last month. The overall decline in product ex-factory prices narrowed. There are obvious differences in the price trends of different industries this month. Among them, the two price indexes of agricultural and sideline food processing, petroleum coal and other fuel processing industries are both lower than 45.0%, and corporate raw material procurement and product sales prices have dropped from the previous month; the two price indexes of ferrous metal smelting and rolling processing, non-ferrous metal smelting and rolling processing and other industries are both at a high level of above 55.0%, and prices have increased significantly.
(3) The employee index continues to decline. Due to the short-term impact of the epidemic, the employee attendance rate of manufacturing companies is obviously insufficient. The employment index dropped to 44.8%, 2.6 percentage points lower than last month, and dropped this month's manufacturing PMI by 0.5 percentage points. At the same time, the proportion of enterprises reflecting insufficient labor supply was 6.5 percentage points higher than the previous month.
(4) PMI of industries related to people’s livelihood continues to expand. Although the manufacturing PMI has declined this month, the PMI of industries closely related to people's livelihood, such as agricultural and sideline food processing and medicine, continues to remain in the expansion range, providing a strong guarantee for the recovery of economic and social development.
At the same time, most companies in the survey believe that as the epidemic situation gradually improves, the market trend is expected to pick up in the later period.
2. The non-manufacturing business activity index fell
In December, the non-manufacturing business activity index was 41.6%, a decrease of 5.1 percentage points from the previous month, and the non-manufacturing business boom level continued to decline.
(1) The prosperity level of the service industry has declined.In December, the proportion of companies surveyed in the service industry that reported being severely affected by the epidemic rose to 61.3%, 10.0 percentage points higher than the previous month. The business activity index dropped to 39.4%, 5.7 percentage points lower than last month, and the service industry market activity decreased significantly. Among the 21 industries surveyed, 15 are in the contraction zone. Among them, the business activity index of contact agglomeration industries such as retail, road transportation, accommodation, catering, and resident services are all below 35.0%, and the total industry business volume has dropped significantly. With the further optimization and implementation of the ten measures for the prevention and control of the new coronavirus epidemic, and the coming into effect, and with the Spring Festival approaching, the number of domestic and international passenger flights has recovered significantly, and the business activity index of the air transport industry has risen to a high level of more than 60.0%. The business activity index of telecommunications, radio, television and satellite transmission services, Internet software and information technology services, currency, financial services, insurance and other industries continues to be in the boom range, and the total business volume has grown steadily.
(2) The construction industry maintains expansion. The business activity index of the construction industry was 54.4%, 1.0 percentage points lower than last month and higher than the critical point. The construction industry as a whole continued to grow. Among them, the business activity index of the civil engineering and construction industry was 57.1%, which has been in a relatively high prosperity range for 11 consecutive months, indicating that driven by various policies and measures such as promoting the construction of major projects, civil engineering and construction companies have maintained rapid construction progress.
3. The comprehensive PMI output index has declined
In December, the comprehensive PMI output index was 42.6%, a decrease of 4.5 percentage points from the previous month, indicating that the overall production and operation activities of my country's enterprises have slowed down. The manufacturing production index and non-manufacturing business activity index that make up the comprehensive PMI output index were 44.6% and 41.6% respectively.
