New Year's first month manufacturing PMI index is 50.5%

The National Bureau of Statistics announced that the China Manufacturing Purchasing Managers Index (PMI) was 50.5% in January 2014. Compared with the expansion range of 0.5 percentage points last month, but still above the critical point, it indicates that the manufacturing industry continues to maintain growth. Affected by the approaching of the Spring Festival, the growth rate has slowed down.

In terms of enterprise scale, the PMI of large enterprises was 51.4%, down 0.6 percentage points from the previous month, and continued to be above the critical point. The medium-sized enterprises had a PMI of 49.5%, down 0.4 percentage points from the previous month, and were located for 2 consecutive months. Below the critical point; small business PMI was 47.1%, down 0.6 percentage points from the previous month, still below the critical point.

In January 2014, the five sub-indices that make up the manufacturing PMI fell by 1 to 4 points. The production index was 53.0%, down 0.9 percentage points from the previous month and above the critical point. The new order index was 50.9%, down 1.1 percentage points from the previous month and above the critical point. According to the survey, the new export order index and import index reflecting the foreign trade situation of the manufacturing industry were 49.3% and 48.2%, respectively, down 0.5 and 0.8 percentage points from the previous month, both of which were below the critical point for two consecutive months. The raw material inventory index was 47.8%, although it rose by 0.2 percentage points from the previous month, but continued to be below the critical point. The employee index was 48.2%, down 0.5 percentage points from the previous month and below the critical point. The supplier's delivery time index was 49.8%, down 0.7 percentage points from the previous month and falling below the critical point.

The on-hand order index was 45.7%, up 0.6 percentage points from the previous month and still below the critical point. The finished goods inventory index was 46.5%, up 0.3 percentage points from the previous month and still below the critical point. The purchase volume index was 51.0%, down 1.7 percentage points from the previous month and above the critical point for six consecutive months. The purchase price index of major raw materials was 49.2%, down 3.4 percentage points from the previous month. The expected index of production and operation activities was 51.3%, up 1.9 percentage points from the previous month, indicating that the company's confidence in future development has increased.

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