National Bureau of Statistics Service Industry Research Center China Logistics and Purchasing Federation In July 2012, China's Manufacturing Purchasing Managers Index (PMI) was 50.1%, down 0.1 percentage point from the previous month, slightly above the critical point. In terms of scale of enterprises, the PMI of large enterprises was 50.3%, down 0.3 percentage points from the previous month, and the PMI of medium-sized enterprises was 50.2%, up 0.2 percentage points from the previous month, both above the critical point; the PMI of small enterprises was 48.1%. The monthly rebound was 0.9 percentage points, which was below the critical point for 4 consecutive months. .gif)
In July 2012, the five sub-indices that make up the manufacturing PMI fell by one liter. The production index was 51.8%, down 0.2 percentage points from the previous month, the lowest point since December 2011, indicating that the growth rate of manufacturing production continued to slow down. From the perspective of the industry, the production index of the agricultural and sideline food processing industry, the textile and garment industry, the tobacco products industry, the electrical machinery equipment manufacturing industry, the metal products industry and other industries are above the critical point, and the production volume keeps growing; the automobile manufacturing industry and special equipment manufacturing The production index of the industry, textile industry, chemical fiber and rubber plastic products industry is below the critical point, and the production volume continues to decline. The new order index was 49.0%, down 0.2 percentage points from the previous month, and was below the critical point for three consecutive months, indicating that the manufacturing market demand continued to decline. From the industry situation, the new orders index of the tobacco products industry, agricultural and sideline food processing industry, textile and apparel clothing industry, electrical machinery equipment manufacturing industry, computer communication electronic equipment and instrumentation manufacturing industry remain above the critical point, enterprises from customers The order quantity of products has increased to varying degrees; the new orders index of ferrous metal smelting and rolling processing industry, textile industry, automobile manufacturing industry, special equipment manufacturing industry and other industries are below the critical point, and market demand has decreased. The survey results show that the new export order index reflecting the foreign trade situation of the manufacturing industry is 46.6%, down 0.9 percentage points from the previous month, and is below the critical point for two consecutive months, the lowest point since December 2011; the import index is 45.0%. It was down 1.5 percentage points from the previous month and was below the critical point for three consecutive months, indicating that the order quantity and raw material imports of the manufacturing industry from abroad continued to decrease this month. The raw material inventory index was 48.5%, although it was up 0.3 percentage points from the previous month, but it is still below the critical point, indicating that the raw material inventory of the manufacturing industry continues to decrease. From the industry situation, the raw material inventory index of the textile and apparel apparel industry, non-metallic mineral products industry and other industries is above the critical point, raw material inventory has increased; metal products industry, ferrous metal smelting and rolling processing industry, automobile manufacturing, general equipment manufacturing The raw material inventory index of industries such as industry and special equipment manufacturing industry is below the critical point. The employee index was 49.5%, down 0.2 percentage points from the previous month, and was below the critical point for two consecutive months, indicating that the manufacturing industry continued to decrease. From the perspective of the industry, the index of employees in the railway and aerospace transportation equipment manufacturing industry, the agricultural and sideline food processing industry, the tobacco products industry and other industries is higher than the critical point, and the labor demand is growing; automobile manufacturing, textile industry, metal products industry, chemical fiber And the index of employees in the rubber and plastic products industry is lower than the critical point, and labor demand is decreasing. The supplier's delivery time index was 49.0%, a slight decrease of 0.1 percentage points from the previous month, below the critical point, indicating that the supply time of manufacturing raw material suppliers has slowed slightly. The survey results show that the main raw material purchase price index is 41.0%, a slight decrease of 0.2 percentage points from the previous month. The index has been below the critical point for three consecutive months, indicating that the purchase price of major raw materials in the manufacturing industry continues to decline. From the perspective of the industry, except for the purchase price index of major raw materials of agricultural and sideline food processing industry, chemical fiber and rubber plastic products industry, tobacco products industry and textile and apparel industry, which are above the critical point, other manufacturing industries are below 50%. The purchase price of enterprises has dropped to varying degrees. In addition, the finished product inventory index for this month was 48.0%, down 4.3 percentage points from the previous month and fell below the critical point, indicating that the pressure on the finished goods inventory of the manufacturing industry has eased. .jpg)
Note 1. The main indicator explains the Purchasing Managers' Index (PMI), which is an index compiled from the monthly survey results of the company's purchasing managers. It covers all aspects of the company's procurement, production, and circulation. It is internationally versatile. One of the leading indicators for monitoring macroeconomic trends has strong predictive and early warning effects. PMI usually takes 50% as the cut-off point of economic strength. When PMI is higher than 50%, it reflects the expansion of manufacturing economy; below 50% reflects the contraction of manufacturing economy. 2. Scope of investigation In the 31 major industry categories of manufacturing in the National Economic Industry Classification (GB/T4754-2011), 820 sample companies were selected from the country for investigation. 3. Survey method The manufacturing procurement manager survey uses the PPS (Probability Proportional to Size) sampling method, which is based on the major categories of the manufacturing industry. The sample size of the industry is allocated according to the added value of the added value of the manufacturing industry. Probability extraction proportional to the income of the company's main business. This survey uses a networked direct reporting survey to conduct a monthly survey of corporate purchasing managers. 4. Calculation method The manufacturing purchasing manager questionnaire covers 11 production volumes, new orders, export orders, existing orders, finished goods inventory, purchase volume, import, purchase price, raw material inventory, employees, supplier delivery time, etc. problem. The diffusion index is calculated separately for each question, which is the percentage of the number of companies that are responding positively plus half of the percentage of the answer. PMI is a composite index calculated by weighting five diffusion indices (classification indices). The five sub-indices and their weights are based on their prior impact on the economy. Specifically, it includes: new order index, weight is 30%; production index, weight is 25%; employee index, weight is 20%; supplier delivery time index, weight is 15%; raw material inventory index, weight It is 10%. Among them, the supplier delivery time index is the inverse index, and the inverse operation is performed when synthesizing the PMI composite index. 5. Seasonal Adjustment The Purchasing Manager Survey is a monthly survey that is subject to seasonal factors and has large data fluctuations. The PMI composite index and each sub-index released today are seasonally adjusted data.
In July 2012, the five sub-indices that make up the manufacturing PMI fell by one liter. The production index was 51.8%, down 0.2 percentage points from the previous month, the lowest point since December 2011, indicating that the growth rate of manufacturing production continued to slow down. From the perspective of the industry, the production index of the agricultural and sideline food processing industry, the textile and garment industry, the tobacco products industry, the electrical machinery equipment manufacturing industry, the metal products industry and other industries are above the critical point, and the production volume keeps growing; the automobile manufacturing industry and special equipment manufacturing The production index of the industry, textile industry, chemical fiber and rubber plastic products industry is below the critical point, and the production volume continues to decline. The new order index was 49.0%, down 0.2 percentage points from the previous month, and was below the critical point for three consecutive months, indicating that the manufacturing market demand continued to decline. From the industry situation, the new orders index of the tobacco products industry, agricultural and sideline food processing industry, textile and apparel clothing industry, electrical machinery equipment manufacturing industry, computer communication electronic equipment and instrumentation manufacturing industry remain above the critical point, enterprises from customers The order quantity of products has increased to varying degrees; the new orders index of ferrous metal smelting and rolling processing industry, textile industry, automobile manufacturing industry, special equipment manufacturing industry and other industries are below the critical point, and market demand has decreased. The survey results show that the new export order index reflecting the foreign trade situation of the manufacturing industry is 46.6%, down 0.9 percentage points from the previous month, and is below the critical point for two consecutive months, the lowest point since December 2011; the import index is 45.0%. It was down 1.5 percentage points from the previous month and was below the critical point for three consecutive months, indicating that the order quantity and raw material imports of the manufacturing industry from abroad continued to decrease this month. The raw material inventory index was 48.5%, although it was up 0.3 percentage points from the previous month, but it is still below the critical point, indicating that the raw material inventory of the manufacturing industry continues to decrease. From the industry situation, the raw material inventory index of the textile and apparel apparel industry, non-metallic mineral products industry and other industries is above the critical point, raw material inventory has increased; metal products industry, ferrous metal smelting and rolling processing industry, automobile manufacturing, general equipment manufacturing The raw material inventory index of industries such as industry and special equipment manufacturing industry is below the critical point. The employee index was 49.5%, down 0.2 percentage points from the previous month, and was below the critical point for two consecutive months, indicating that the manufacturing industry continued to decrease. From the perspective of the industry, the index of employees in the railway and aerospace transportation equipment manufacturing industry, the agricultural and sideline food processing industry, the tobacco products industry and other industries is higher than the critical point, and the labor demand is growing; automobile manufacturing, textile industry, metal products industry, chemical fiber And the index of employees in the rubber and plastic products industry is lower than the critical point, and labor demand is decreasing. The supplier's delivery time index was 49.0%, a slight decrease of 0.1 percentage points from the previous month, below the critical point, indicating that the supply time of manufacturing raw material suppliers has slowed slightly. The survey results show that the main raw material purchase price index is 41.0%, a slight decrease of 0.2 percentage points from the previous month. The index has been below the critical point for three consecutive months, indicating that the purchase price of major raw materials in the manufacturing industry continues to decline. From the perspective of the industry, except for the purchase price index of major raw materials of agricultural and sideline food processing industry, chemical fiber and rubber plastic products industry, tobacco products industry and textile and apparel industry, which are above the critical point, other manufacturing industries are below 50%. The purchase price of enterprises has dropped to varying degrees. In addition, the finished product inventory index for this month was 48.0%, down 4.3 percentage points from the previous month and fell below the critical point, indicating that the pressure on the finished goods inventory of the manufacturing industry has eased. Note 1. The main indicator explains the Purchasing Managers' Index (PMI), which is an index compiled from the monthly survey results of the company's purchasing managers. It covers all aspects of the company's procurement, production, and circulation. It is internationally versatile. One of the leading indicators for monitoring macroeconomic trends has strong predictive and early warning effects. PMI usually takes 50% as the cut-off point of economic strength. When PMI is higher than 50%, it reflects the expansion of manufacturing economy; below 50% reflects the contraction of manufacturing economy. 2. Scope of investigation In the 31 major industry categories of manufacturing in the National Economic Industry Classification (GB/T4754-2011), 820 sample companies were selected from the country for investigation. 3. Survey method The manufacturing procurement manager survey uses the PPS (Probability Proportional to Size) sampling method, which is based on the major categories of the manufacturing industry. The sample size of the industry is allocated according to the added value of the added value of the manufacturing industry. Probability extraction proportional to the income of the company's main business. This survey uses a networked direct reporting survey to conduct a monthly survey of corporate purchasing managers. 4. Calculation method The manufacturing purchasing manager questionnaire covers 11 production volumes, new orders, export orders, existing orders, finished goods inventory, purchase volume, import, purchase price, raw material inventory, employees, supplier delivery time, etc. problem. The diffusion index is calculated separately for each question, which is the percentage of the number of companies that are responding positively plus half of the percentage of the answer. PMI is a composite index calculated by weighting five diffusion indices (classification indices). The five sub-indices and their weights are based on their prior impact on the economy. Specifically, it includes: new order index, weight is 30%; production index, weight is 25%; employee index, weight is 20%; supplier delivery time index, weight is 15%; raw material inventory index, weight It is 10%. Among them, the supplier delivery time index is the inverse index, and the inverse operation is performed when synthesizing the PMI composite index. 5. Seasonal Adjustment The Purchasing Manager Survey is a monthly survey that is subject to seasonal factors and has large data fluctuations. 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