In September 2019, China'S Manufacturing Purchasing Managers Index (PMI) Was 49.8%.

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

In September 2019, China's Manufacturing Purchasing Managers Index (PMI) was 49.8%, up 0.3 percentage points from last month.

From the scale of enterprises, the PMI of large enterprises is 50.8%, higher than that of last month's 0.4 percentage points, and is continuously located in the expansion interval. The PMI of small and medium enterprises is 48.6% and 48.8%, respectively, rising 0.4 and 0.2 percentage points respectively.

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

Production index was 52.3%, an increase of 0.4 percentage points from last month, which is higher than the critical point, indicating that the expansion of manufacturing industry has accelerated.

The new order index was 50.5%, an increase of 0.8 percentage points from last month to a critical point, indicating an increase in the volume of orders for manufacturing products.

The stock index of raw materials was 47.6%, a slight increase of 0.1 percentage points from last month, which is below the critical point, indicating a slight narrowing of the stock of major raw materials in the manufacturing industry.

The index of employees is 47%, a slight increase of 0.1 percentage points from last month, which is below the critical point, indicating that the decrease of employment volume in manufacturing enterprises is narrowing.

The supplier delivery time index was 50.5%, an increase of 0.2 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 September 2019, the index of non manufacturing business activity was 53.7%, slightly lower than that of last month's 0.1 percentage points, and the non manufacturing industry continued to expand steadily.

According to the industry, the business activity index of the service sector was 53%, an increase of 0.5 percentage points from last month, and the growth of the service industry was accelerated. From the perspective of industry categories, the index of business activities in air transport, postal, Internet software information technology services, monetary and financial services, capital market services and other industries is in a high boom range of 58.0%, and the total business volume is growing rapidly. Business activity index of accommodation industry, catering industry, real estate industry and residential service industry is in the contraction range. The business activity index of the construction industry is 57.6%, down 3.6 percentage points from last month, and still in a high boom zone.

The new order index was 50.5%, an increase of 0.4 percentage points from last month, which is higher than the critical point, indicating that the demand for non manufacturing market has increased. In terms of industry, the service industry new orders index was 49.7%, up 0.3 percentage points from last month; the construction industry new orders index was 55.1%, up 1.2 percentage points from last month.

The price index of the input products was 52.8%, up 2 percentage points from last month, expanding in the range of expansion, and the price increase of non manufacturing enterprises' input in business activities has been widened. In terms of industry, the service industry input price index was 52.8%, up 1.6 percentage points from last month; the construction industry input price index was 52.5%, up 3.6 percentage points from last month.

The sales price index was 50%, up 0.9 percentage points from last month, at the critical point, indicating that the overall level of non manufacturing sales prices remained stable. In terms of industry, the service industry sales price index was 49.8%, up 1.1 percentage points from last month; the construction industry sales price index was 51.4%, down 0.1 percentage points from last month.

The index of employees is 48.2%, down 0.7 percentage points from last month, and below the critical point, the employment volume of non manufacturing enterprises is decreasing. In terms of industry, the service industry employee index is 47.7%, down 0.5 percentage points from last month; the construction industry employee index is 51.1%, down 1.6 percentage points from last month.

The business activity expectation index is 59.7%, down 0.7 percentage points from last month, and is still in the relatively high economic zone, indicating that the non manufacturing enterprises are optimistic about the future market development. In terms of industry, the expected index of service business activity is 59.3%, down 0.5 percentage points from last month; the expected index of construction business activity is 62.0%, down 2.0 percentage points from last month.

　　 Three. Operation of China's comprehensive PMI output index

In September 2019, the composite PMI output index was 53.1%, slightly higher than last month's 0.1 percentage points, indicating that the production and operation of Chinese enterprises were generally stable.