China's PMI Increased in November
By CnAgri
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Department of Service Statistics of NBS
China Federation of Logistics and Purchases (CFLP)
In November, China's manufacturing purchasing managers index (PMI) was 50.6 percent, up by 0.4 percentage points month-on-month.
In view of the sizes of enterprises, the PMI of large-sized enterprises was 51.4 percent, increased 0.5 percentage points month-on-month, stayed above the threshold for three consecutive months, the growth rate expanded which was the main driving force for the overall recovery of the manufacturing economy in November. That of medium-sized enterprises was 49.7 percent, increased 0.4 percentage points month-on-month, still positioned below the threshold. That of small-sized enterprises was 46.1 percent, decreased 1.1 percentage points month-on-month, this index stayed below the threshold since April 2012.
In November, among the five sub-indices composing PMI, three sub-indices increased, while that of the other two sub-indices decreased.
Production index was 52.5 percent, increased 0.4 percentage points month-on-month, positioned above the threshold, which indicating that manufacturing production kept expanding, and the growth rate kept increasing. In view of different industries, automobile manufacturing, textile and apparel industry, processing of timber and furniture manufacturing, electrical machinery and equipment manufacturing gained continuously increasing, tobacco industry gained sharp rebound in the production of this month due to the seasonal production factors. The production outputs of foods, liquor, beverages and fine tea manufacturing, special equipment manufacturing, non-metallic mineral products industry, chemical raw materials and chemical products manufacturing fell back.
In November, the new orders index was 51.2 percent, up by 0.8 percentage points month-on-month, positioned above threshold for the two consecutive months, showing that the manufacturing product orders from customers increased, and market demand has improved. In view of different industries, the market demand of processing of timber and furniture manufacturing, electrical machinery and equipment manufacturing, automobile manufacturing, computer communications, electronic equipment and instrumentation manufacturing, tobacco industry increased significantly, that of special equipment manufacturing, chemical raw materials and chemical products manufacturing, paper printing industry, cultural, educational, sporting goods manufacturing stayed below the threshold, new orders reduced, and the market demand decreased. The survey results showed that foreign new orders index which reflects the situation of foreign trade of manufacturing was 50.2 percent, increased 0.9 percentage points, month-on-month; the import index was 48.5 percent, increased 0.1 percentage points month-on-month.
Main raw materials inventory index was 47.9 percent, up by 0.6 percentage points month-on-month, still below the threshold, but this index has showed a recovery trend for 3 consecutive months, which indicated that the raw materials inventory continued to reduce, while that of decreasing amplitude narrowed. In view of different industries, the main raw materials inventory of smelting and processing of ferrous metal ores, timber processing and furniture manufacturing increased, that of special equipment manufacturing, electrical machinery and equipment manufacturing, general equipment manufacturing, automobile manufacturing, and fabricated metal products reduced.
Employed person index was 48.7 percent, decreased 0.5 percentage points month-on-month, stayed below the threshold for six consecutive months, which indicated that the employment in manufacturing enterprises continued to reduce. In view of different industries, the demand for employment of agro-food processing industry, food, wine, beverages and refined tea manufacturing, and pharmaceutical manufacturing increased. Employed person index of paper printing industry, cultural, educational, sporting goods manufacturing, textile industry, and fabricated metal products manufacturing positioned below the threshold, employment continued to decrease.
Supplier delivery time index was 49.9 percent, 0.2 percentage points lower month-on-month, 0.1 percentage points lower than the threshold, which indicated that the manufacturing supplier delivery time has got shorter a little bit.
Main raw material purchase price index was 50.1 percent, down by 4.2 percentage points month-on-month, close to the critical point between the expansion and contraction. In view of different industries, the month-on-month prices of ferrous metal mining and processing, pharmaceutical manufacturing, tobacco industry, non-metallic mineral products industry, paper printing industry, cultural, educational, sporting goods manufacturing, increased with a significant move. That of petroleum processing and coking industry, chemical fiber industry, rubber and plastic products industry, processing of timber and furniture manufacturing, electrical machinery and equipment manufacturing industry, non-ferrous metal mining and processing, continued to stay below the threshold, and main raw material purchase price declined.
