PMI 2019

I. Manufacturing Purchasing Managers’Index

In December 2019, China’s manufacturing Purchasing Managers’ Index (PMI) was 50.2 percent, unchanged over that in the previous month.

Among the five sub-indices composing PMI, the production index, the new orders index and the supplier distribution time index were higher than the threshold, while the raw materials inventory index and the employment index were lower than the threshold.

The production index was 53.2 percent, up by 0.6 percent points from last month, continually higher than the threshold, indicating that the expansion of manufacturing enterprises continued to accelerate.

The new orders index was 51.2 percent, down by 0.1 percent points slightly from last month, and was above the threshold for two consecutive months, indicating that the manufacturing market demand continued to grow.

The main raw materials inventory index was 47.2 percent, lower 0.6 percent points than last month, which was below the critical point, indicating that the main raw material inventory of manufacturing industry decreased.

The employment index was 47.3 percent, kept the same level with last month, indicating that the employment climate of manufacturing enterprises was stable.

The supplier distribution time index was 51.1 percent, an increase of 0.6 percent points over last month, which was above the threshold, indicating that the delivery time of raw material suppliers in manufacturing industry was accelerated.