In July, The PMI Of Manufacturing Industry Was 51.1%, Continuing The Trend Of Stable And Rising Last Month
In July, the purchasing managers' index and non manufacturing business activity index continued to stay above the critical point
- Zhao Qinghe, Senior Statistician of service industry survey center of National Bureau of statistics, interprets China purchasing manager index in July 2020
On July 31, 2020, the National Bureau of purchasing managers and China logistics service jointly released the survey. In this regard, the National Bureau of Statistics Service Industry Survey Center Senior Statistician Zhao Qinghe has carried on the interpretation.
With the effective implementation of the overall epidemic prevention and development policies, China's economic prosperity has continued to recover, and the operating conditions of enterprises have been continuously improved. In July, China's purchasing manager index continued to maintain a stable operation, of which the manufacturing purchasing manager index was 51.1%, up 0.2% from the previous month, while the non manufacturing business activity index and the comprehensive PMI output index were 54.2% and 54.1%, slightly lower than 0.2% and 0.1% respectively.
1. The purchasing manager index of manufacturing industry has been above the critical point for five consecutive months
In July, the PMI of the manufacturing industry was 51.1%, continuing the trend of steady increase in the previous month. Among the 21 industries surveyed, PMI of 17 industries was higher than the critical point, 3 more than that of last month, and the business scope was expanded. Main features of the month:
First, production generally rebounded. The production index was 54.0%, slightly higher than 0.1% of the previous month. In addition to the critical points of the textile and clothing industry, the index of the textile and clothing industry has been higher than the critical point for the first time except for the textile and clothing industries. In order to meet the needs of production, enterprises increased their purchasing efforts. This month, the index of purchasing volume rebounded significantly, which was 52.4%, 0.6 percentage points higher than that of last month.
Second, demand is gradually warming up. The index of new orders was 51.7%, 0.3 percentage points higher than the previous month, rising for three consecutive months. From the perspective of the industry, the index of new orders of paper printing, electrical machinery and equipment, computer communication and electronic equipment and other manufacturing industries continued to rise above the critical point, and the recovery momentum of the industry continued to increase.
Third, the import and export situation continued to improve. China's import and export policies gradually came into effect, with a series of measures to stabilize imports and exports, which were 49.4% and 1.4% higher than the import and export stabilization measures, respectively.
Fourth, the main raw material purchase price index rose to the recent high. Compared with the previous month, the purchase price index of main materials decreased by 1.2% and 58.2% respectively. Affected by the rising demand of downstream industries, the prices of upstream products have increased significantly. The purchasing price indexes of main raw materials in the manufacturing industries of petroleum processing, steel and nonferrous metals are all higher than 63.0%, and the ex factory price indexes are higher than 58.0%.
Fifth, enterprises are expected to improve further. The expected index of production and operation activities was 57.8%, 0.3 percentage points higher than that of the previous month. Enterprises are optimistic about the recovery trend of the industry in the near future. From the perspective of the industry, the expected production and operation indexes of food, wine and beverage refined tea, medicine, electrical machinery and equipment manufacturing industry are all higher than 60.0%, and the labor demand of the above industries has increased month on month, and the employee index is above 51.0%.
The survey results also show that the PMI of small enterprises in this month was 48.6%, down 0.3 percentage points from the previous month, and continued to be below the critical point. The production index and the new order index were 49.8% and 46.8% respectively. The supply and demand sides of small enterprises continued to be under pressure. In addition, some enterprises in Hubei Province and Hunan Province are affected by flooding, such as water logging, water logging, and so on.
2. The index of non manufacturing business activities continued to remain above the critical point
In July, the non manufacturing business activity index was 54.2%, down 0.2% from the previous month, and remained above the critical point.
The recovery of service industry is maintained. The business activity index of the service industry was 53.1%, down 0.3 percentage points from the previous month and continued to be higher than the critical point. From the industry situation, the business activity index of postal express, accommodation, catering, telecommunications, securities and other industries was higher than that of last month, and the total business volume increased. This month, the business activity index of residents' service industry and culture, sports and entertainment industry ended the contraction trend for five consecutive months, rising to 51.1% and 51.9% respectively, higher than 1.9% and 6.1% of the previous month, indicating that under the effect of a series of consumption promotion policies in various localities in the near future, the aggregation and contact service industries which were seriously affected by the epidemic situation accelerated the recovery.
The construction industry rebounded at a high level. Infrastructure projects were accelerated, and the construction work volume maintained a rapid growth. The business activity index of the construction industry was 60.5%, 0.7 percentage points higher than that of the previous month. The business activity index of civil engineering construction industry was 62.5%, 3.2 percentage points higher than that of the previous month. From the perspective of labor demand and market expectation, the construction industry employee index and business activity expectation index were 56.2% and 66.3%, respectively, which remained above 55.0% and 65.0% for four consecutive months.
3. The comprehensive PMI output index runs smoothly
In July, the comprehensive PMI output index was 54.1%, slightly lower than 0.1% of the previous month, indicating that the overall production and operation of Chinese enterprises maintained a recovery growth momentum. The manufacturing production index and non manufacturing business activity index, which constitute the composite PMI output index, were 54.0% and 54.2% respectively, up and down on a month on month basis.
- Related reading

Analysis Of China'S Shoes And Hats Retail Sales Data From January To August In 2018: Retail Sales Increased By 8.9% Year On Year (Table)
|- Comprehensive data | 7月制造业PMI为51.1% 延续上月稳中有升的走势
- Comprehensive data | China'S Manufacturing Purchasing Managers Index (PMI) In July 2020 Was 51.1%
- Industry dialysis | At The End Of July, The Export Index Of Dalang Wool Fabric Fell In A Narrow Range, While The Domestic Trade Market Declined Slightly
- Pregnant baby | Under The Epidemic Situation, The Consumption Of Children'S Clothing Decreased Sharply, And The Business Income Of Anel In The First Half Of The Year Was Only 491 Million!
- Pregnant baby | Under The Epidemic Situation, The Consumption Of Children'S Clothing Decreased Sharply, And The Business Income Of Anel In The First Half Of The Year Was Only 491 Million!
- I want to break the news. | The Economic Downturn Of EU In The Second Quarter Caused By The New Epidemic
- Dalian | Dalian Clothing: Invite To The World, Invite To The World
- Shoe Express | Detonate 2020China Joy Erkeqi Bomb, Hand In Hand With Silver Soul To Continue The Wonderful House Of Everything!
- Dress culture | Guangdong Fashion Week
- Expo News | China (Dalian) Service Expo Won Gold Medal Of China Brand Exhibition
- China'S Manufacturing Purchasing Managers Index (PMI) In July 2020 Was 51.1%
- At The End Of July, The Export Index Of Dalang Wool Fabric Fell In A Narrow Range, While The Domestic Trade Market Declined Slightly
- Under The Epidemic Situation, The Consumption Of Children'S Clothing Decreased Sharply, And The Business Income Of Anel In The First Half Of The Year Was Only 491 Million!
- Under The Epidemic Situation, The Consumption Of Children'S Clothing Decreased Sharply, And The Business Income Of Anel In The First Half Of The Year Was Only 491 Million!
- The Economic Downturn Of EU In The Second Quarter Caused By The New Epidemic
- Dalian Clothing: Invite To The World, Invite To The World
- Detonate 2020China Joy Erkeqi Bomb, Hand In Hand With Silver Soul To Continue The Wonderful House Of Everything!
- Guangdong Fashion Week
- China (Dalian) Service Expo Won Gold Medal Of China Brand Exhibition
- Market Analysis: The Domestic Clothing Market Will Evaporate 400 Billion This Year, And The Performance Of Luxury Group Will Decline