[ppzhan Abstract] In May 2012, the five sub-indexes that constituted the manufacturing PMI generally fell. In May 2012, the China Manufacturing Purchasing Managers Index (PMI) was 50.4%, down 2.9 percentage points from the previous month. In terms of the size of enterprises, the PMI of large and medium-sized enterprises was 51.1% and 50.8%, respectively, which was 2.7 and 2.6 percentage points lower than that of the previous month, and continued to be above the critical point; the small enterprise PMI was 45.2%, which was 3.9 percentage points lower than the previous month. It is below the critical point for 2 consecutive months.
The production index is 52.9%, which continues to be above the critical point, but is 4.3 percentage points lower than the previous month, which is the low point since December 2011, indicating that the growth rate of manufacturing enterprises has slowed down significantly. In terms of industry, the production of metal products, food and beverage refined tea manufacturing, petroleum processing and coking, and electrical machinery and equipment manufacturing continued to grow steadily; automobile manufacturing, wood processing and furniture manufacturing, railway ships The production index of aerospace transportation equipment manufacturing, paper printing, cultural and educational entertainment products manufacturing, special equipment manufacturing and other industries is below the critical point, and the production volume of enterprises has dropped to a different extent than last month.
The new order index was 49.8%, down 4.7 percentage points from the previous month. After four consecutive months above the critical point, this month fell below the critical point, indicating that manufacturing market demand showed signs of decline. From the industry situation, the new orders index of the metal products industry, food and beverage refined tea manufacturing, electrical machinery equipment manufacturing, petroleum processing and coking industry, textile and apparel industry and other industries are above the critical point, and market demand has increased; The market demand for wood processing and furniture manufacturing, special equipment manufacturing, automobile manufacturing, railway and ship aerospace transportation equipment manufacturing, ferrous metal smelting and rolling processing industries has dropped significantly. At the same time, the survey results show that the foreign new orders index reflecting the foreign trade situation of the manufacturing industry is 50.4%, down 1.8 percentage points from the previous month; the import index is 48.1%, which is 2.4 percentage points lower than the previous month and fell below the critical point this month.
The raw material inventory index was 45.1%, which was 3.4 percentage points lower than the previous month and continued to be below the critical point, the lowest since February 2009. From the industry situation, only the raw materials inventory index of the two industries of food and wine refined tea manufacturing and metal products industry is above the critical point; other industries are below the critical point, and the inventory of raw materials has dropped to a different extent than last month.
The employee index was 50.5%, down 0.5 percentage points from the previous month, indicating that the growth rate of manufacturing labor demand has slowed slightly. In terms of industry, the employment of metal products, electrical machinery and equipment manufacturing, non-metallic mineral products, food and wine and refined tea manufacturing industries increased sequentially; automotive manufacturing, wood processing and furniture manufacturing, paper printing The employment of enterprises in the cultural and educational institutions, such as the entertainment industry and the entertainment industry, has fallen from last month.
The supplier's delivery time index was 49.0%, which was 0.6 percentage points lower than the previous month. It was below the critical point for three consecutive months, indicating that the manufacturing supplier's delivery time has slowed down.
The survey results show that the main raw material purchase price index is 44.8%, which is a sharp drop of 10.0 percentage points from the previous month and falls below the critical point, indicating that the purchase price of major raw materials in the manufacturing industry has dropped significantly. In terms of industry conditions, the purchase prices of major raw materials in the tobacco products industry, wood processing and furniture manufacturing, and pharmaceutical manufacturing industries rose from the previous month; petroleum processing and coking, chemical fiber and rubber plastic products, ferrous metal smelting and rolling processing industries The purchase prices of major raw materials in non-ferrous metal smelting and rolling processing industries, textiles, electrical machinery and equipment manufacturing industries fell from the previous month.
In addition, of the 11 sub-indices this month, only the finished goods inventory index rose by 52.2%, higher than the previous month's 2.7 percentage points, and rose above the critical point. Some enterprises report that due to the lack of market demand, the sales of products are not smooth, resulting in a backlog of finished goods inventory, difficulties in returning funds, affecting the production and operation activities of enterprises.
China Manufacturing PMI Sub-Index (seasonally adjusted)
unit:%
PMI
Production of new order raw materials
The production index is 52.9%, which continues to be above the critical point, but is 4.3 percentage points lower than the previous month, which is the low point since December 2011, indicating that the growth rate of manufacturing enterprises has slowed down significantly. In terms of industry, the production of metal products, food and beverage refined tea manufacturing, petroleum processing and coking, and electrical machinery and equipment manufacturing continued to grow steadily; automobile manufacturing, wood processing and furniture manufacturing, railway ships The production index of aerospace transportation equipment manufacturing, paper printing, cultural and educational entertainment products manufacturing, special equipment manufacturing and other industries is below the critical point, and the production volume of enterprises has dropped to a different extent than last month.
The new order index was 49.8%, down 4.7 percentage points from the previous month. After four consecutive months above the critical point, this month fell below the critical point, indicating that manufacturing market demand showed signs of decline. From the industry situation, the new orders index of the metal products industry, food and beverage refined tea manufacturing, electrical machinery equipment manufacturing, petroleum processing and coking industry, textile and apparel industry and other industries are above the critical point, and market demand has increased; The market demand for wood processing and furniture manufacturing, special equipment manufacturing, automobile manufacturing, railway and ship aerospace transportation equipment manufacturing, ferrous metal smelting and rolling processing industries has dropped significantly. At the same time, the survey results show that the foreign new orders index reflecting the foreign trade situation of the manufacturing industry is 50.4%, down 1.8 percentage points from the previous month; the import index is 48.1%, which is 2.4 percentage points lower than the previous month and fell below the critical point this month.
The raw material inventory index was 45.1%, which was 3.4 percentage points lower than the previous month and continued to be below the critical point, the lowest since February 2009. From the industry situation, only the raw materials inventory index of the two industries of food and wine refined tea manufacturing and metal products industry is above the critical point; other industries are below the critical point, and the inventory of raw materials has dropped to a different extent than last month.
The employee index was 50.5%, down 0.5 percentage points from the previous month, indicating that the growth rate of manufacturing labor demand has slowed slightly. In terms of industry, the employment of metal products, electrical machinery and equipment manufacturing, non-metallic mineral products, food and wine and refined tea manufacturing industries increased sequentially; automotive manufacturing, wood processing and furniture manufacturing, paper printing The employment of enterprises in the cultural and educational institutions, such as the entertainment industry and the entertainment industry, has fallen from last month.
The supplier's delivery time index was 49.0%, which was 0.6 percentage points lower than the previous month. It was below the critical point for three consecutive months, indicating that the manufacturing supplier's delivery time has slowed down.
The survey results show that the main raw material purchase price index is 44.8%, which is a sharp drop of 10.0 percentage points from the previous month and falls below the critical point, indicating that the purchase price of major raw materials in the manufacturing industry has dropped significantly. In terms of industry conditions, the purchase prices of major raw materials in the tobacco products industry, wood processing and furniture manufacturing, and pharmaceutical manufacturing industries rose from the previous month; petroleum processing and coking, chemical fiber and rubber plastic products, ferrous metal smelting and rolling processing industries The purchase prices of major raw materials in non-ferrous metal smelting and rolling processing industries, textiles, electrical machinery and equipment manufacturing industries fell from the previous month.
In addition, of the 11 sub-indices this month, only the finished goods inventory index rose by 52.2%, higher than the previous month's 2.7 percentage points, and rose above the critical point. Some enterprises report that due to the lack of market demand, the sales of products are not smooth, resulting in a backlog of finished goods inventory, difficulties in returning funds, affecting the production and operation activities of enterprises.
China Manufacturing PMI Sub-Index (seasonally adjusted)
unit:%
PMI
Production of new order raw materials
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