The composite PMI for transport infrastructure sector in July 2023 stood at 54.12, up 0.90 point on the month and 2.82 points on the year. The seasonally-adjusted composite index stood at 50.87, an increase of 1.14 points MoM and 2.91 points YoY. The index for production stood at 51.41, up 0.92 point on a monthly basis and 6.41 points on a yearly basis. The index for new orders rose 1.50 points month-on-month and 1.27 points year-on-year to 52.35.
Raw material inventories stood at 14.09 days of production on average in July, up 0.05 day MoM (The number of days of raw material inventories is for reference only as the survey sample may have changed).
This month, the infrastructure industry remained brisk, and production and orders continued to improve. Construction progress in some areas slowed down due to high temperatures. The number of new projects increased from last month, and some enterprises are also actively preparing for bidding and other works. At present, the overall cash flows of infrastructure construction companies are not optimistic, albeit slightly better than that of construction companies.
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