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China's manufacturing PMI returns to the glory of the online economy to stabilize the bottom

China's manufacturing PMI returns to the glory of the online economy to stabilize the bottom

  • Categories:Company Culture
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  • Time of issue:2018-09-29 08:58
  • Views:2

(Summary description)TheChinaFederationofLogisticsandPurchasingandtheNationalBureauofStatistics'ServiceIndustryResearchCenterreleaseddataonthe1st.InOctober,themanufacturingPMIreturnedto50%abovethedryline,reporting50.2%,up

China's manufacturing PMI returns to the glory of the online economy to stabilize the bottom

(Summary description)TheChinaFederationofLogisticsandPurchasingandtheNationalBureauofStatistics'ServiceIndustryResearchCenterreleaseddataonthe1st.InOctober,themanufacturingPMIreturnedto50%abovethedryline,reporting50.2%,up

  • Categories:Company Culture
  • Author:
  • Origin:
  • Time of issue:2018-09-29 08:58
  • Views:2
Information

The China Federation of Logistics and Purchasing and the National Bureau of Statistics' Service Industry Research Center released data on the 1st. In October, the manufacturing PMI returned to 50% above the dry line, reporting 50.2%, up 0.4 percentage points from the previous month.
Cai Jin, vice president of the China Federation of Logistics and Purchasing, pointed out that PMI has returned to the line of glory and above, indicating that the trend of economic stabilization and recovery has been consolidated. It is expected that the economy will be in a moderate recovery in the fourth quarter.
Zhang Liqun, a researcher at the Development Research Center of the State Council, also believes that the PMI index continues to rise, which is slightly above the critical value of 50%, indicating that the economy has stabilized.
PMI usually takes 50% as the cut-off point of economic strength. When PMI is higher than 50%, it reflects the expansion of manufacturing economy; below 50% reflects the contraction of manufacturing economy. Previously, China's manufacturing PMI has been below 50% for two consecutive months.
From the 11 sub-indices, only the backlog index fell, and the rest of the index rebounded to varying degrees. Among them, the purchase volume index and the raw material inventory index rose significantly, with an increase of more than 1 percentage point.
Specifically, the new order index reported 50.4%, up 0.6 percentage points from the previous month; the production index rose 0.8 percentage points to 52.1%; the new export order index, import index reported 49.3% and 48 .4%, up 0.5 percentage points and 0.7 percentage points respectively from the previous month; the purchase price index was 54.3%, up 3.3 percentage points.
In terms of industries, 14 industries including textile and apparel, wood processing and furniture manufacturing, computer communication electronic equipment and instrumentation manufacturing, pharmaceutical manufacturing, and non-metallic mineral products are higher than 50%; metal products industry, tobacco Seven industries, including the product industry, paper printing, and cultural and educational products, are less than 50%.
Zhang Liqun said that the new order index, the new export order index, and the purchase volume index continued to rise, reflecting that the enterprise's destocking activities have basically ended; it is expected that the future economic growth will end the callback and there will be a slight rebound.

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