PMI 2018

II. Non-manufacturing Purchasing Managers’ Index

In December 2018, China's non-manufacturing purchasing managers’ index was 53.8 percent, an increase of 0.4 percentage points from the previous month, indicating that the pace of non-manufacturing growth has accelerated.

In terms of different industries, the non-manufacturing purchasing managers’ index of the service industry was 52.3 percent, a little decrease of 0.1 percentage points from the previous month, but was higher than the threshold, the service industry kept increasing. The non-manufacturing purchasing managers’ index of the construction industry achieved 62.6 percent, an increase of 3.3 percentage points from the previous month, the pace of growth has accelerated.

The new orders index was 50.4 percent, an increase of 0.3 percentage points from the previous month, and kept higher than the threshold, indicating that the pace of non-manufacturing industry’s market demand has accelerated.

The input price index was 50.1 percent, down by 0.7 percentage points from the previous month, and was little higher than the threshold, indicating that the increase of input price increase during the process of non-manufacturing enterprises’ operating activities has narrowed.

The sales price index was 47.6 percent, down by 1.8 percentage points from the previous month, and was still lower than the threshold, indicating that the overall level of non-manufacturing sales prices has decreased.

The employment index was 48.5 percent, a decrease of 0.2 percentage points from the previous month, lower than the threshold, indicating that the amount of non-manufacturing enterprises’ labor employment decreased.

The business activities expectation index was 60.8 percent, a decrease of 0.1 percentage points from last month, in the high level of the range which above 60.0 percent, indicating that non-manufacturing enterprises companies were optimistic about market development expectations.