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China’s official manufacturing PMI data for October was 49.3, indicating that manufacturing production remains expanding

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Update time : 2019-10-31 09:28:52
In October 2019, the China Manufacturing Purchasing Managers Index (PMI) was 49.3%, down 0.5 percentage points from the previous month.



In terms of enterprise scale, the PMI of large enterprises was 49.9%, down by 0.9 percentage points from the previous month; the PMI of medium-sized enterprises was 49.0%, which was 0.4 percentage points higher than that of the previous month; the PMI of small enterprises was 47.9%, which was 0.9 percentage points lower than the previous month.

From the classification index, among the five sub-indices that constitute the manufacturing PMI, the production index and supplier delivery time index are above the critical point, and the new order index, raw material inventory index and employee index are below the critical point.

The production index was 50.8%, down 1.5 percentage points from the previous month and still above the critical point, indicating that manufacturing production continued to expand and the pace of expansion slowed down.

The new order index was 49.6%, down 0.9 percentage points from the previous month and fell below the critical point, indicating that demand in the manufacturing market has declined.

The raw material inventory index was 47.4%, a slight decrease of 0.2 percentage points from the previous month. It was below the critical point, indicating that the main raw material inventory of the manufacturing industry decreased.

The employee index was 47.3%, up 0.3 percentage points from the previous month and below the critical point, indicating that the decline in the number of manufacturing enterprises has narrowed.

The supplier's delivery time index was 50.1%, although it was 0.4 percentage points lower than the previous month, but slightly higher than the critical point, indicating that the lead time of manufacturing raw material suppliers was slightly faster than last month.

The Purchasing Managers' Index (PMI) is an index compiled from the monthly survey results of the company's purchasing managers. It covers all aspects of the company's procurement, production, and distribution, including manufacturing and non-manufacturing industries. One of the leading indicators for monitoring macroeconomic trends has a strong predictive and early warning effect. The comprehensive PMI output index is a comprehensive index reflecting the changes in output of the entire industry (manufacturing and non-manufacturing) in the current PMI indicator system. PMI usually takes 50% as the cut-off point of economic strength. When PMI is higher than 50%, it reflects the overall expansion of the economy; below 50%, it reflects the overall contraction of the economy.