September's purchasing managers' index rebounded significantly

In September 2010, the China Manufacturing Purchasing Managers Index (PMI) was 53.8%, which was 2.1 percentage points higher than the previous month. Since March 2009, the index has been at the critical point of more than 50% for 19 consecutive months, indicating that China's manufacturing economy has generally shown a steady upward trend and its growth rate has accelerated.

In September 2010, among the five sub-indices that make up the manufacturing PMI, there were various degrees of improvement besides the supplier's delivery time index.

The production index was 56.4%, an increase of 3.3 percentage points from the previous month, and was above the critical point for 20 consecutive months, indicating that the production volume of the manufacturing enterprises continued to maintain a growth trend and the growth rate increased significantly. From the perspective of the industry, the production of special equipment and instrumentation, cultural office machinery manufacturing, tobacco manufacturing, agricultural and non-staple food processing and food manufacturing, transportation equipment manufacturing, general equipment manufacturing and other industries saw significant growth; wood processing The production index of wood, bamboo, rattan and palm grass products and furniture manufacturing, petroleum processing and coking industry fell below the critical point, and the production volume of enterprises fell sharply. In terms of scale, the production growth of large, medium and small-sized enterprises has accelerated.

The new order index was 56.3%, which was 3.2 percentage points higher than last month. It continued to be above the critical point, indicating that the demand in the manufacturing market has risen significantly. The number of new orders for enterprises has continued to grow steadily, and the increase has further increased. In terms of different industries, the number of new orders for agricultural and non-staple food processing and food manufacturing, tobacco manufacturing, special equipment and instrumentation culture, office machinery manufacturing, pharmaceutical manufacturing, transportation equipment manufacturing and other industries witnessed rapid growth; oil processing and The number of new orders in the coking industry and the metal products industry plummeted. The new orders index for wood processing, bamboo, rattan, palm grass products and furniture manufacturing has been below the critical point for five consecutive months. Market expectations are still not optimistic. The survey showed that the export order index was 52.7%, up 0.5 percentage points from the previous month.

The inventory index of major raw materials was 49.1%, which was an increase of 1.8 percentage points from the previous month. However, it remained below the critical point, indicating that the main raw material stocks in the manufacturing industry continued to decrease, but the decline narrowed. From the perspective of the industry, the stock of major raw materials in non-ferrous metals smelting and rolling processing industry, computer equipment and other equipment manufacturing of communication equipment, manufacturing of textile and clothing shoes and hats, fur and feather products, agricultural and subsidiary food processing, and food manufacturing industry continued to grow; beverages The major raw material inventories index for manufacturing, electrical machinery and equipment manufacturing, and metal products industries were all around 41%, and the company's raw material inventories fell significantly.

The employee index was 52.4%, which was 0.7 percentage points higher than that of last month. It was placed above the critical point for seven consecutive months, which indicates that the company’s workload has increased due to the significant increase in manufacturing production and new orders. From the industry perspective, general equipment manufacturing, agricultural and non-staple food processing and food manufacturing, special equipment manufacturing and instrumentation culture office machinery manufacturing, communications equipment computer and other electronic equipment manufacturing, electrical machinery and equipment manufacturing and other industries The demand for labor has increased significantly; the number of employees in the textile, tobacco products, chemical fiber manufacturing and rubber products industries has decreased.

The supplier delivery time index was 50.4%, which was 0.3% lower than last month. It was close to the critical point, indicating that the delivery time of manufacturing material suppliers had little change compared with the previous month.

According to the survey, the purchase price index of major raw materials was 65.3%, which was 4.8 percentage points higher than that of the previous month. The index has increased substantially for two consecutive months. In terms of sub-sectors, the purchase price indices of the 20 industries are all above the critical point, indicating that the purchasing costs of manufacturing companies have generally increased, including the textile industry, agricultural and non-staple food processing and food manufacturing, pharmaceutical manufacturing, and general equipment manufacturing. The purchase price index of the chemical fiber manufacturing and rubber products industry, chemical raw materials, and chemical product manufacturing industries was operating at a high level of over 70%, and the purchase price of major raw materials increased significantly.

Enterprises reported this month that affected by energy-saving emission reductions, limited power production, and other factors, companies were unable to complete customer orders on time; some of the shortage of raw materials for production appeared to have contributed to further price increases.