SMM News: 1. The Operation of Purchasing Manager Index in China's Manufacturing Industry
In July 2019, China's manufacturing purchasing managers' index (PMI) was 49.7%, up 0.3 percentage points from the previous month, and the manufacturing boom rebounded.
In terms of enterprise size, the PMI of large enterprises was 50.7 per cent, up from 0.8 percentage points last month, rising to the expansion range, while the PMI of small and medium-sized enterprises was 48.7 per cent and 48.2 per cent, down 0.4 and 0.1 percentage points from the previous month, respectively, below the critical point.
From the point of view of the sub-index, among the five sub-indexes that make up the manufacturing PMI, the production index and supplier distribution time index are higher than the critical point, while the new order index, raw material inventory index and employee index are lower than the critical point.
The production index was 52.1 per cent, up 0.8 percentage points from the previous month and above the tipping point, indicating an accelerated overall expansion of manufacturing production.
The index of new orders, at 48.8%, was 0.2 percentage points higher than the previous month and below the tipping point, indicating a narrowing of the decline in orders for manufactured goods.
The raw material inventory index was 48.0%, down 0.2 percentage points from the previous month, below the tipping point, indicating a decline in inventories of major raw materials in the manufacturing sector.
The employment index, at 47.1%, was 0.2 percentage points higher than the previous month and below the tipping point, indicating a slight rebound in the employment climate of manufacturing companies.
The supplier delivery time index was 50.1%, down 0.1 percentage points from the previous month and above the critical point, indicating a slightly faster delivery time for suppliers of manufacturing raw materials.
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