2023-10-01 02:56:00
The China Federation of Logistics and Purchasing and the Service Industry Survey Center of the National Bureau of Statistics released on September 30 that China’s manufacturing purchasing managers’ index PMI in September was 50.2%, returning to the expansion range. This is also the fourth consecutive month of rebound in China’s purchasing managers’ index. The manufacturing PMI returned to the expansion range in September. What do you think? What signal does the “four consecutive rises” in data release?
China’s manufacturing purchasing managers’ index returned to above 50% in September. Among the 21 industries surveyed, the purchasing managers index of 11 industries was above the critical point, an increase of 2 from the previous month, and the manufacturing boom has expanded.
Cai Jin, Vice President of China Federation of Logistics and Purchasing: The index in September has rebounded to the expansion range of more than 50%, indicating that the development of the entire Chinese economy has begun to move from the recovery stage to the growth stage. Judging from the situation, it should be said that the endogenous driving force of the economy is further strengthening, and the effects of policies are continuing to appear. The growth of the entire economy is universal. Judging from the quality of economic growth, it has also improved significantly.
What is the Manufacturing Purchasing Managers Index?
PMI, also known as the Purchasing Managers Index, is known as the “barometer” of macroeconomic changes. It is an internationally accepted macroeconomic advanced monitoring and early warning indicator. Usually 50% is used as the critical value of economic strength. If it is higher than 50%, It reflects economic expansion; if it is below 50%, it reflects economic contraction. The manufacturing PMI returned to the expansion range in September, indicating that the development of the entire Chinese economy has begun to move from a recovery stage to a growth stage. Among them, the purchasing managers’ indexes of key industries such as equipment manufacturing, high-tech manufacturing and consumer goods were 50.6%, 50.1% and 51.3% respectively, up 0.6, 0.7 and 0.3 percentage points from the previous month, all in the expansion range.
In fact, in September, not only the manufacturing PMI rebounded for the better, but the non-manufacturing business activity index released today also rebounded by 0.7 percentage points from the previous month, reaching 51.7%, which is in the expansion range, further confirming that my country’s economic recovery is improving. situation.
The non-manufacturing index rebounded and the expansion intensity increased.
In terms of non-manufacturing, changes in the business activity index are usually used to reflect the overall operation of the non-manufacturing industry. The non-manufacturing business activity index in September was 51.7%, an increase of 0.7 percentage points from the previous month, indicating that the expansion of non-manufacturing industries has increased.
Huo Lihui, Director of the Enterprise Prosperity Department of the Service Industry Survey Center of the National Bureau of Statistics: Service industry companies have good expectations for the recent market recovery and development, including railway transportation, postal services, telecommunications, radio and television and satellite transmission services, monetary and financial services and other industries. Business activities are expected The index is in the high-prosperity range above 60%, and companies are more optimistic regarding the development of related industries.
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