National Bureau of Statistics: The composite PMI output index for October was 49.7%, down 1.0 percentage point from the previous month

The Zhitong Finance App learned that on October 31, data from the National Bureau of Statistics showed that in October, the manufacturing purchasing managers' index (PMI) was 49.3%, down 0.8 percentage points from the previous month, and the manufacturing sentiment level declined somewhat. The non-manufacturing business activity index was 49.7%, down 0.5 percentage points from the previous month, and the level of non-manufacturing sentiment declined. The composite PMI output index was 49.7%, down 1.0 percentage point from the previous month, and the overall production and operation activities of Chinese enterprises have slowed down.

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I. Operation of the China Manufacturing Purchasing Managers' Index

In October, the manufacturing purchasing managers' index (PMI) was 49.3%, down 0.8 percentage points from the previous month, and the manufacturing sentiment level declined somewhat.

In terms of enterprise size, the PMI for large enterprises was 50.2%, down 0.4 percentage points from the previous month, still above the critical point; the PMI for small and medium-sized enterprises was 48.4% and 47.5% respectively, down 1.3 and 1.4 percentage points from the previous month, below the critical point.

 Looking at the classification index, among the five classification indices that make up the manufacturing PMI, the supplier delivery time index is above the critical point; the production index, new order index, raw material inventory index, and employee index are below the critical point.

The production index was 49.8%, down 1.9 percentage points from the previous month, indicating a slowdown in manufacturing production activity.

The new orders index was 49.4%, down 1.1 percentage points from the previous month, indicating a decline in demand in the manufacturing market.

The raw material inventory index was 48.4%, up 0.2 percentage points from the previous month, indicating that the decline in stocks of major raw materials in the manufacturing industry has narrowed.

The employee index was 48.4%, the same as last month, indicating that the employment situation of manufacturing enterprises is generally stable.

The supplier delivery time index was 50.2%, up 0.1 percentage points from the previous month, indicating faster delivery times for raw material suppliers in the manufacturing industry.

II. Operation of China's Non-Manufacturing Purchasing Managers' Index

In October, the non-manufacturing business activity index was 49.7%, down 0.5 percentage points from the previous month, and the level of non-manufacturing sentiment declined.

By industry, the index of business activity in the construction industry was 48.0%, down 2.3 percentage points from the previous month; the index of business activity in the service sector was 50.0%, down 0.2 percentage points from the previous month. Looking at the service industry, the indices of business activity in industries such as railway transportation, water transportation, postal services, Internet software, and information technology services are all in the high boom range above 55.0%; the indices of business activity in capital market services, insurance, real estate and other industries are all below the critical point.

The new orders index was 44.4%, down 2.1 percentage points from the previous month, indicating a decline in demand sentiment in the non-manufacturing market. By industry, the index of new orders in the construction industry was 40.0%, down 5.7 percentage points from the previous month; the index of new orders in the service sector was 45.2%, down 1.5 percentage points from the previous month.

The input price index was 51.5%, down 1.0 percentage point from the previous month, indicating that the overall increase in the price of inputs used by non-manufacturing enterprises for business activities has narrowed. By industry, the construction industry input price index was 52.4%, down 1.6 percentage points from the previous month; the service industry input price index was 51.4%, down 0.8 percentage points from the previous month.

The sales price index was 49.5%, down 0.8 percentage points from the previous month, indicating a decline in the overall sales price level of non-manufacturing enterprises. By industry, the sales price index for the construction industry was 48.9%, up 0.4 percentage points from the previous month; the sales price index for the service industry was 49.6%, down 1.0 percentage point from the previous month.

The employee index was 46.0%, up 0.1 percentage points from the previous month, indicating a slight improvement in the employment climate of non-manufacturing enterprises. By industry, the index of workers in the construction industry was 42.0%, down 2.3 percentage points from the previous month; the index of workers in the service sector was 46.7%, up 0.5 percentage points from the previous month.

The expected business activity index was 54.7%, down 0.8 percentage points from the previous month. It is still above the critical point, indicating that non-manufacturing enterprises maintain confidence in market development. By industry, the expected index of business activity in the construction industry was 52.3%, down 3.1 percentage points from the previous month; the expected index of business activity in the service sector was 55.2%, down 0.3 percentage points from the previous month.

III. Operation of China's Composite PMI Output Index

In October, the composite PMI output index was 49.7%, down 1.0 percentage point from the previous month. The overall production and operation activities of Chinese enterprises have slowed down.

This article was edited by “National Bureau of Statistics”, Zhitong Finance Editor: Zhang Jinliang.