What does China manufacturing purchasing managers index pmi mean?

(a) China manufacturing purchasing managers index (PMI) shows that manufacturing purchasing managers surveyed 820 sample enterprises from manufacturing enterprises across the country, and conducted a questionnaire survey on enterprise purchasing managers once a month. The survey covers 28 major categories of manufacturing industry in National Economic Industry Classification (GB/T4754-2002), and each industry allocates sample enterprises according to its scale ratio. The questionnaire involves 1 1 questions, such as output, new orders, export orders, existing orders, finished goods inventory, purchase quantity, import, purchase price, raw material inventory, and delivery time of employees and suppliers. The diffusion index is calculated separately for each question, that is, the percentage of enterprises that answer yes plus half of the percentage of enterprises that answer unchanged. PMI is a comprehensive index, which is weighted by five diffusion indexes (classification indexes). The five classification indicators and their weights are determined according to their leading influence on the economy. Specifically, it includes: a new order index with a weight of 30%; Production index with a weight of 25%; Employee index, with a weight of 20%; Supplier delivery time index with weight of 15%; Raw material inventory index with weight of 10%. PMI is one of the internationally accepted macroeconomic monitoring index systems and plays an important role in monitoring and forecasting national economic activities. Usually, 50% is used as the dividing point of economic strength, and PMI is higher than 50%, reflecting the economic expansion of manufacturing industry; Below 50%, reflecting the decline of manufacturing industry. (2) Published by China Federation of Logistics and Purchasing (CFLP), 20 1 1.

In April, China's manufacturing PMI was 52.9%, 20 1 1, and China's manufacturing purchasing managers' index (PMI) released by China Federation of Logistics and Purchasing was 52.9%, down 0.5 percentage points from last month. After a brief rebound last month, the PMI index continued to decline again this month, indicating that with the adjustment of China's economic structure, economic growth is in the process of moderate correction.

Judging from the sub-indices, there is a slight downward trend on the whole. Compared with last month, the employee index was flat, the raw material inventory index and supplier delivery time index increased slightly, and other indexes all declined in different degrees, among which the new order index, new export order index, import index and purchase price index dropped significantly, with the decline rate exceeding 1 percentage point.

Among the 20 industries in this month, five industries, such as textile, pharmaceutical manufacturing, transportation equipment manufacturing, chemical raw materials and products manufacturing, petroleum processing and coking, are below 50%, and the rest 15 industries are above 50%. In terms of product types, raw materials, energy, intermediate products, consumer goods and finished products are all higher than 50%, with a small gap ranging from 5 1.7% to 53.6%.

According to the survey of purchasing managers in manufacturing industry in April, Zhang Liqun, a special analyst, said: "The PMI index dropped in April, which was consistent with the changing trend of demand. In the first quarter, the growth rate of consumption and exports both dropped. The decline in the new export order index may indicate that the export growth rate will continue to decrease. Overall, the PMI index reflects that the economic growth rate of China is still likely to decline. In particular, the slowdown in demand growth has led to inventory adjustment, and the possibility of a decline in economic growth has increased. "

The new order index fell back. This month's new order index was 53.8%, down 1.4 percentage points from last month. Among the 20 industries, wood processing and furniture manufacturing, textiles, transportation equipment manufacturing and other industries are less than 50%; General equipment manufacturing, non-metallic mineral products industry, electrical machinery and equipment manufacturing are higher than 50%. In terms of product types, raw materials, energy, intermediate goods, consumer goods and manufactured goods all account for more than 50%, with manufactured goods being the highest, exceeding 55%.

The production index declined slightly. This month's production index was 55.3%, down 0.4 percentage points from last month. Among the 20 industries, transportation equipment manufacturing, pharmaceutical manufacturing, wood processing and furniture manufacturing, chemical raw materials and chemical products manufacturing, petroleum processing and coking are less than 50%; The rest 15 industries are higher than 50%, among which electrical machinery and equipment manufacturing, general equipment manufacturing, non-metallic mineral products industry and other industries are higher, reaching more than 60%.

Import index and new export orders fell. This month's import index was 50.6%, down 1.4 percentage points from last month. Among the 20 industries, 10 industries such as general equipment manufacturing, petroleum processing and coking, communication equipment, computer and other electronic equipment manufacturing are higher than 50%; Tobacco products industry, chemical raw materials and chemical products manufacturing industry, metal products industry and other 10 industries are less than 50%. In terms of product types, raw materials and energy, less than 50% of consumer goods enterprises; More than 50% of enterprises are intermediate products and finished products for production.

The index of new export orders this month was 5 1.3%, down 1.2 percentage points from last month. Among the 20 industries, the 1 1 industries such as general equipment manufacturing, tobacco products manufacturing and beverage manufacturing are higher than 50%, and the general equipment manufacturing industry is the highest, reaching more than 60%. Nine industries, such as pharmaceutical manufacturing, transportation equipment manufacturing, paper printing and cultural and educational sporting goods manufacturing, are below 50%. In terms of product types, raw materials and energy enterprises are less than 50%; Intermediate goods, consumer goods, manufactured goods enterprises are higher than 50%.

The employee index is flat. The employee index this month is 5 1.8%, which is the same as last month. Among the 20 industries, clothing, shoes and hats manufacturing, fur and down products manufacturing, pharmaceutical manufacturing, chemical fiber manufacturing, rubber and plastic products manufacturing, etc. 14 industries are higher than 50%; Six industries such as petroleum processing and coking, chemical raw materials and chemical products manufacturing are less than 50%. In terms of regions, the eastern, central and western regions are all above 50%.

The purchase price index continued to decline. This month's purchase price index was 66.2%, down 2. 1 percentage point from last month. By industry, all 20 industries are above 50%, of which 7 industries, led by petroleum processing and coking, are above 70% and the leading industries are above 80%. In terms of regions, the eastern, central and western regions are generally higher, all above 60%. In terms of product types, the enterprises that produce finished products are the highest, reaching more than 70%; Raw materials and energy, intermediate goods and consumer goods are slightly lower, but they are also higher than 60%.