According to data released by the Service Industry Survey Center of the National Bureau of Statistics and China Federation of Logistics and Purchasing on July 31, in July, the manufacturing purchasing managers’ index (PMI) was 49%, down 1.2 percentage points from the previous month. In addition, the price index fell significantly.
“In July, affected by factors such as the traditional off-season of production, insufficient market demand release, and the decline in the prosperity of high-energy-consuming industries, the manufacturing PMI fell to 49%.” Zhao Qinghe, a senior statistician at the Service Industry Survey Center of the National Bureau of Statistics, said.
Zhao Qinghe analyzed that among the 21 industries surveyed, 10 industries have PMIs in the expansion range, among which the PMIs of agricultural and sideline food processing, food and beverage refined tea, special equipment, automobiles, railways, ships, aerospace equipment and other industries are higher than 52%. , continued to expand for two consecutive months, and production and demand continued to recover. The PMI of high-energy-consuming industries such as textiles, petroleum, coal and other fuel processing, ferrous metal smelting and rolling processing continued to be in the contraction range, which was significantly lower than the overall level of the manufacturing industry, which was one of the main factors for the decline of PMI this month.
In addition, the price index fell significantly. Affected by factors such as fluctuations in the prices of international bulk commodities such as oil, coal and iron ore, the purchase price index and ex-factory price index of major raw materials were 40.4% and 40.1% respectively, down 11.6 and 6.2 percentage points from the previous month. Among them, the two price indices of ferrous metal smelting and rolling processing industry are the lowest among the surveyed industries, and the purchase price of raw materials and the ex-factory price of products have dropped significantly.
The production and operation activity expectation index is in the expansion range. Zhao Qinghe said that the internal and external environment of my country’s economic development has become more complex and severe recently. The production and operation of enterprises have continued to be under pressure, and market expectations have been affected to a certain extent. The expected index of production and operation activities was 52%, a decrease of 3.2 percentage points from the previous month, and continued to be in the expansion range. .
The new kinetic energy maintained an upward momentum, and the industrial structure continued to be optimized. In July, the equipment manufacturing PMI and the high-tech manufacturing PMI were 51.2% and 51.5% respectively, both remaining in the expansion range of more than 51%. The sub-indices show that the growth rate of supply and demand in the equipment manufacturing industry and high-tech manufacturing industry has maintained a relatively good level.
“Changes in sub-indices show that market demand declined in July, and the production and operation activities of enterprises slowed down. However, the cost pressure of enterprises has dropped significantly, employment has remained relatively stable, and new kinetic energy has maintained an upward momentum.” said Wen Tao, a researcher at the China Logistics Information Center. The current fluctuations in economic recovery are affected by certain short-term factors. In the second half of the year, there are still foundations and conditions to maintain stability and rebound.
Wen Tao pointed out that the reduced cost pressure of enterprises is conducive to the recovery of enterprise efficiency. Domestic commodity prices fell from high levels. The purchasing price index dropped sharply by 11.6 percentage points from the previous month to 40.4%, falling for 4 consecutive months and the downward trend accelerated.
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Label:Manufacturing; PMIEditor:Pang Shuqing
