China'S Manufacturing Purchasing Managers Index (PMI) In July 2020 Was 51.1%

According to the data released by the National Bureau of statistics on July 31

I. operation of purchasing manager index of China's manufacturing industry

In July, China's Manufacturing Purchasing Managers Index (PMI) was 51.1%, up 0.2 percentage points from the previous month, which was above the critical point for five consecutive months.

In terms of the size of enterprises, the PMI of large enterprises was 52.0%, a slight decrease of 0.1 percentage points compared with the previous month; the PMI of medium-sized enterprises was 51.2%, up 1.0 percentage points over the previous month; and the PMI of small enterprises was 48.6%, down 0.3 percentage points from the previous month.

From the perspective of sub index, among the five sub indexes of manufacturing PMI, production index, new order index and supplier delivery time index are higher than the critical point, while raw material inventory index and employee index are lower than the critical point.

The production index was 54.0%, 0.1 percentage point higher than the previous month, higher than the critical point for five consecutive months, indicating that the production volume of the manufacturing industry continued to grow on a month on month basis.

The number of new orders rose by 3.0% in the previous month, indicating that the manufacturing demand recovered gradually.

The inventory index of raw materials was 47.9%, up 0.3% from the previous month, indicating that the decline in inventory of major raw materials in the manufacturing industry continued to narrow.

The employment index was 49.3%, up 0.2% from the previous month, indicating a slight improvement in the employment situation of manufacturing enterprises.

The supplier delivery time index was 50.4%, which was 0.1% lower than the previous month, but it was still above the critical point, indicating that the delivery time of raw material suppliers in the manufacturing industry continued to accelerate.