In May 2019, The PMI Of China'S Manufacturing Industry Was 49.4%.

1. Operation of purchasing managers index of China's manufacturing industry

In May 2019, China's Manufacturing Purchasing Managers Index (PMI) was 49.4%, down 0.7 percentage points from last month.

From the scale of enterprises, the PMI of large enterprises is 50.3%, down 0.5 percentage points from last month, still higher than the critical point; the PMI of small and medium enterprises is 48.8% and 47.8%, down 0.3 and 2 percentage points respectively.

According to the classification index, production index and supplier delivery time index are higher than the critical point in the 5 classification indices of manufacturing PMI. The new order index, raw material inventory index and employment index are below the critical point.

The production index is 51.7%, down 0.4 percentage points from last month, still above the critical point, indicating that manufacturing industry continues to expand.

The new order index was 49.8%, down 1.6 percentage points from last month, under the critical point, indicating a decline in demand for manufacturing markets.

The stock index of raw materials was 47.4%, up 0.2 percentage points from last month, which is below the critical point, indicating that the main raw material inventory of manufacturing industry has narrowed down.

The employment index is 47%, down 0.2 percentage points from last month, which is below the critical point, indicating that the employment volume of manufacturing enterprises is down.

The supplier delivery time index was 50.9%, an increase of 1 percentage points from last month, which is above the critical point, indicating that the delivery time of manufacturing material suppliers has accelerated.

Two. Operation of China's non Manufacturing Purchasing Managers Index

In May 2019, China's non manufacturing business activity index was 54.3%, unchanged from last month, indicating that the non manufacturing sector continued to develop steadily and rapidly.

According to the industry, the business activity index of the service sector was 53.5%, an increase of 0.2 percentage points from last month, and the service industry continued to maintain a relatively fast growth trend.

In terms of industry, business activities index such as railway pportation, air pport, postal industry, accommodation, telecommunications, broadcasting and satellite pmission services, Internet software and information technology services and other industries are located in the high and strong economic range of more than 60%. Related business activities are more active, business volume is growing rapidly; wholesale business, capital market services, insurance and other industries business activity index is below the critical point, and the industry boom has dropped.

The construction business activity index was 58.6%, down 1.5 percentage points from last month, still located in the higher boom area, and the construction industry continued to expand rapidly.

The new order index was 50.3%, down 0.5 percentage points from last month, above the critical point, indicating that the growth rate of demand for non manufacturing industries has slowed down.

According to the industry, the new order index of the service sector was 50%, down 0.2 percentage points from last month, at the critical point; the construction industry new order index was 52.1%, down 2.5 percentage points from last month.

The price index of the input products was 52.2%, down 0.8 percentage points from last month, which is above the critical point. It shows that the overall level of input prices of non manufacturing enterprises for business activities continues to rise, but the increase is narrowed.

According to the industry, the price index of the service industry input is 51.7%, down 0.8 percentage points from last month, and the construction industry input price index is 55.1%, down 1 percentage points from last month.

The sales price index was 49.9%, down 0.6 percentage points from last month, below the critical point, indicating that the overall level of non manufacturing sales prices has dropped.

According to the industry, the sales price index of the service sector was 49.5%, down 0.6 percentage points from last month, and the construction industry sales price index was 52.6%, down 0.5 percentage points from last month.

The employment index is 48.3%, down 0.4 percentage points from last month, which is below the critical point, indicating that the number of non manufacturing enterprises is decreasing.

According to the industry, the index of service industry employees is 47.9%, down 0.6 percentage points from last month, and the construction industry employment index is 50.6%, up 0.4 percentage points from last month.

The business activity expectation index is 60.2%, down 0.1 percentage points from last month, and is still in the high and high economic zone, indicating that the non manufacturing enterprises remain optimistic about the future development.

According to the industry, the service sector business activity index is 59.5%, down 0.5 percentage points from last month, and the construction industry activity activity index is 64.1%, up 2.2 percentage points from last month.

Three. Operation of China's comprehensive PMI output index

In May 2019, the composite PMI output index was 53.3%, a slight drop of 0.1 percentage points from last month, indicating that the production and operation activities of Chinese enterprises remained stable.