The Purchasing Managers Index for the Manufacturing Industry continues to rebound, with the release of the Purchasing Managers Index for China in July. Managers | Economy | Purchasing
The Purchasing Managers Index is an internationally recognized macroeconomic monitoring and early warning indicator, usually set at 50% as the critical value for economic strength, and above 50%, it reflects economic expansion; Below 50%, it reflects economic contraction. The China Federation of Logistics and Purchasing and the Service Industry Survey Center of the National Bureau of Statistics jointly released the China Purchasing Managers Index for July today. Among them, the Purchasing Managers Index of the manufacturing industry continues to rebound, and the economy is showing a clear trend of stabilizing and improving.
The Purchasing Managers Index of China's manufacturing industry in July was 49.3%, an increase of 0.3 percentage points from the previous month, and a steady increase for two consecutive months. Among the 21 industries surveyed, 10 are in the expansion range, an increase of 2 compared to the previous month. The overall level of manufacturing industry prosperity is continuously improving.
Cai Jin, Vice President of the China Federation of Logistics and Purchasing: The rebound of the index reflects that the overall operation of the economy is still in a basic trend of recovery and improvement, especially from this month's data, it can be said that this momentum of recovery and improvement is further strengthening.
From the production index perspective, the production activities of enterprises continued to operate steadily in July, with the production index maintaining an expansion range of over 50%. From the perspective of major industries, the production index of equipment manufacturing, high-tech manufacturing, and consumer goods manufacturing are all above 50%, indicating the sustained and stable operation of new energy and consumer goods manufacturing production. In addition, the production index of the basic raw materials industry has returned to the expansion range after running below 50% for three consecutive months, indicating that the production of basic raw materials has stopped falling and rebounded. In addition, driven by the policy of expanding domestic demand, the overall market demand continues to improve. The new order index has risen for two consecutive months. Looking at different industries, there is a differentiation in market demand.
Shi Chaohui, a second level inspector at the Service Industry Survey Center of the National Bureau of Statistics: From the specific performance of industries in July, the production index and new order index of oil and coal processing, chemical fiber and rubber plastic products, as well as specialized equipment, railway, ship, aerospace equipment, and computer communication electronic equipment were all above the critical point, indicating that the production and demand sides of these industries were expanding synchronously.