In November 2014, China’s manufacturing purchasing managers index (PMI) was 50.3%, 0.5 percentage points lower over last month according to National Bureau of Statistics China.
The PMI of large-sized enterprises was 51.6%, decreased 0.3 percentage points month-on-month, continued to stay above the threshold; that of medium-sized and small-sized enterprises were 48.4% and 47.6% respectively, down by 0.7 and 0.9 percentage points respectively, both stayed below the threshold.
In November, among the five sub-indices composing PMI, the production index, new orders index and supplier delivery time index were higher than the threshold, while the employed person index and main raw materials inventory index were lower than the threshold.
- Production index was 52.5%, decreased 0.6 percentage points month-on-month, still stayed above the threshold, indicating a continued expansion of manufacturing production, while the growth had slowed.
- New orders index was 50.9%, decreased 0.7 percentage points month-on-month, still higher than the threshold, showing that the market demand of manufacturing sector continued to increase, with a narrowed growth rate.
- Employed person index was 48.2%, decreased 0.2 percentage points month-on-month, continued to stay below threshold, indicating that the labor employment of manufacturing enterprises reduced.
- Main raw materials inventory index was 47.7%, decreased 0.7 percentage points over last month, continued to stay below the threshold, indicating that the raw material inventory for manufacturing production continued to fall.
- Supplier delivery time index was 50.3%, increased 0.2 percentage points month-on-month, higher than the threshold, indicating that the delivery time of manufacturing raw material suppliers had been accelerated.
| China’s manufacturing PMI (Seasonally adjusted) | ||||||
| Unit: % | ||||||
| PMI | ||||||
| Production Index | New Orders Index | Main Raw Materials Inventory Index | Employed Person Index | Supplier Delivery Time Index | ||
| 2013-November | 51.4 | 54.5 | 52.3 | 47.8 | 49.6 | 50.6 |
| December | 51 | 53.9 | 52 | 47.6 | 48.7 | 50.5 |
| 2014-January | 50.5 | 53 | 50.9 | 47.8 | 48.2 | 49.8 |
| February | 50.2 | 52.6 | 50.5 | 47.4 | 48 | 49.9 |
| March | 50.3 | 52.7 | 50.6 | 47.8 | 48.3 | 49.8 |
| April | 50.4 | 52.5 | 51.2 | 48.1 | 48.3 | 50.1 |
| May | 50.8 | 52.8 | 52.3 | 48 | 48.2 | 50.3 |
| June | 51 | 53 | 52.8 | 48 | 48.6 | 50.5 |
| July | 51.7 | 54.2 | 53.6 | 49 | 48.3 | 50.2 |
| August | 51.1 | 53.2 | 52.5 | 48.6 | 48.2 | 50 |
| September | 51.1 | 53.6 | 52.2 | 48.8 | 48.2 | 50.1 |
| October | 50.8 | 53.1 | 51.6 | 48.4 | 48.4 | 50.1 |
| November | 50.3 | 52.5 | 50.9 | 47.7 | 48.2 | 50.3 |
Also read: China Total Retail Sales Exceeded 2.39 Trillion Yuan in Oct 2014
