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PMI data is a good mapping for China's manufacturing industry to develop steadily

Update:31-08-2018
Summary:

The China National Purchasing Managers Index (PMI), rel […]

The China National Purchasing Managers Index (PMI), released by the National Bureau of Statistics and the China Federation of Logistics and Purchasing on June 30, was 51.5%, down 0.4 percentage points from the previous month and still higher than the average of 0.2 percentage points in the first half of the year. Since the beginning of this year, the manufacturing PMI has been operating in the economic range of more than 50.0%, with an average of 51.3% in the first half of the year.

Zhang Liqun, a researcher at the Development Research Center of the State Council, said that the PMI index fell slightly in June and continued to remain above 51%. Production, orders, procurement and other activities were generally stable, indicating that the economy continued to maintain steady growth.

Since the beginning of this year, the state has continuously introduced support policies such as targeted RRR reduction, scientific and technological innovation support, tax reduction and fee reduction, and service upgrading, which have helped SMEs to operate stably and rapidly, and boosted corporate confidence.

From the perspective of the size of the PMI data in June, the PMI of large enterprises was 52.9%, down 0.2 percentage points from the previous month, still the second highest point in the year, and the main support for the stable expansion of the manufacturing industry; the medium-sized enterprise PMI was 49.9%. It was 1.1 percentage points lower than the previous month; the small business PMI was 49.8%, up 0.2 percentage points from the previous month.

Zhao Qinghe, senior statistician of the Service Industry Survey Center of the National Bureau of Statistics, analyzed that the main features of the PMI data in June were that the fundamentals of the manufacturing industry were generally good, the overall production and demand were growing steadily, the import and export sentiment was down, and the price index continued to rise.