PMI 2019

II. Non-manufacturing Purchasing Managers’ Index

In December 2019, China’s non-manufacturing business activities index was 53.5 percent, lower 0.9 percent points than the previous month, indicating that the overall of non-manufacturing industry has maintained the expansion trend and the growth rate has slowed down.

In terms of different industries, the non-manufacturing business activity index of the service industry was 53.0 percent, lower 0.5 percent points than last month. The business activity index of the construction industry was 56.7 percent, down by 2.9 percentage points from the previous month, maintaining a high level of prosperity.

The new orders index was 50.4 percent, down by 0.9 percentage points from the previous month, stayed above the threshold.

The input price index was 52.4 percent, 0.8 percentage points lower than that of last month, which was above the threshold, indicating that the overall increase of input price used by non-manufacturing enterprises for business activities was narrowed.

The sales price index was 50.3 percent, 1.0 percentage points lower than last month, but still was above the threshold, indicating that the overall level of non-manufacturing sales prices rose slightly month-on-month.

The employment index was 48.3 percent, down by 0.7 percentage points from the previous month, which was above the threshold.

The business activities expectation index was 59.1 percent, lower 1.9 percentage points than last month, but still stayed in the high boom zone, indicating that non-manufacturing enterprises were more confident in the future market development.