PMI Is Flat With Last Month, Who Will Relieve Export Pressure?

The October China Manufacturing Purchasing Managers Index (PMI), jointly released by the National Bureau of Statistics Service Industry Survey Center and the China Federation of logistics and purchasing in November 1st, was 49.8%, unchanged from last month.

According to the classification index, the production index is 5 in the PMI classification index.

Index and supplier delivery time index are higher than the critical point continuously.

Employee index and raw material inventory index are still below the critical point.

Zhao Qinghe, Senior Statistician of the National Bureau of Statistics Service Industry Survey Center, thinks that the PMI operation of manufacturing industry in October has several main characteristics: first, the production and market demand is generally stable.

Two, structural adjustment continues to push forward, and high technology, consumer goods and other manufacturing industries continue to expand.

Three, some traditional industries continue to reduce production and resolve excess capacity.

The PMI of high energy consuming industry is 47.8%, which continues to be below the critical point.

In terms of the non manufacturing business activity index reflecting the service sector, in October 2015, China's non manufacturing business activity index was 53.1%, down 0.3 percentage points from last month, and it continued to expand in the expansion area.

The new order index was 51.2%, an increase of 1 percentage points from last month, indicating that the overall growth of the non manufacturing sector is stable and the market demand has increased.

but

The business activity expectation index is 60.5%, up 1.2 percentage points from last month, indicating that the service industry market is expected to continue to improve.

In addition, the construction business activity index was 57.1%, an increase of 1.9 percentage points from last month.

According to the scale of enterprises, the PMI of large enterprises was 51%, 0.1 percentage points lower than that of last month, and the trend was stable in the past two months. The medium-sized enterprises were 48.7%, continuing to be below the critical point, but 0.2 percentage points higher than the previous month. Small enterprises were 46.6%, down 0.2 percentage points from last month, and remained below the critical point.

Zhao Qinghe revealed that the survey results showed that small businesses

The ratio is obviously higher than that of large and medium-sized enterprises. Financing difficulties and financing are still one of the main problems that plaguing small enterprises' production and operation.

In addition, import and export downward pressure is still larger.

Due to the recent weak international economic recovery, the domestic economy continues to face downward pressure, and the import and export situation of manufacturing industry is still grim.

The new export orders index was 47.4%, down 0.5 percentage points from last month, the import index was 47.5%, lower than last month's 0.6 percentage points, and two indexes fell down below the critical point.