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[In terms of size of enterprises]
Release date:[2017/7/5] Read a total of[1029]time

In June 2017, China's manufacturing purchasing managers' index (PMI) was 51.7 per cent, up 0.5 percentage points from the previous month and the pace of expansion in the manufacturing sector accelerated.


In terms of size of enterprises, the PMI of large enterprises was 52.7 per cent, up 1.5 percentage points from the previous month and continuously above the tipping point. The PMI was 50.5 per cent, down from 0.8 per cent last month and continuing to expand. The PMI, which is 50.1 per cent, was down 0.9 percentage points from the previous month but remains above the tipping point.


From the classification index, the five categories that make up the manufacturing PMI index, the production and new orders index is higher than the critical point, raw materials inventory index, practitioners and supplier delivery time index is lower than the critical point.


The production index was 54.4%, up from 1.0 percent last month, and was in an expanding range, indicating that manufacturing production continued to grow and grew faster.


The new orders index was 53.1 per cent, up 0.8 percentage points from the previous month and above the critical point, indicating a steady rise in demand in the manufacturing sector.


The index of raw materials inventories was 48.6 per cent, up 0.1 percentage points from the previous month, still below the critical point, indicating a continuing decline in the main raw material stocks of manufacturing.


The employment index was 49.0 per cent, down 0.4 percentage points from the previous month, continuing below the tipping point, indicating a decline in factory employment.


The supplier delivery time index was 49.9 per cent, down 0.3 percentage points from the previous month and below the critical point, indicating a slight slowdown in delivery time for manufacturing raw materials suppliers.


note


1. Main index interpretation


Purchasing managers' index (PMI), which is based on statistical summary monthly survey of purchasing managers of enterprises, establishment of index, which covers the enterprise procurement, production, circulation and so on each link, is the general international monitoring of macroeconomic trends, one of the leading index has strong prediction, early warning role. The PMI, which usually takes 50% as a cut-off point for the economy, is above 50%, reflecting the expansion of the manufacturing economy. Less than 50 per cent reflects a contraction in manufacturing.


Survey scope


There are 31 sectors of the manufacturing industry in the national economic sector classification (GB/t4754-2011), and 3,000 samples are surveyed.


3. Survey method


Manufacturing purchasing managers' surveys using PPS (aim-listed Probability Proportional to Size) sampling method, layer for manufacturing industry categories, sample Size according to the proportion of the added value of the added value of the total manufacturing distribution, layer inside samples using and enterprise main business income is Proportional to the Probability sampling.


The survey was carried out by the national bureau of statistics directly under the national bureau of statistics (NBS), and used the national statistical network to direct the monthly survey of purchasing managers.


4. Calculation method


Manufacturing purchasing managers' surveys involving production, new orders, export orders, the existing order, finished goods inventory, purchasing, import, purchase price, the factory price, raw material inventory, employees, suppliers, distribution of time, such as the production and business operation activities expected 13 questions. Calculate the diffusion index for each problem, which is the percentage of the number of companies that are responding to each question, plus half the percentage of the answer. The producer price index was released in January 2017.


The PMI is a composite index that is weighted by the five diffusion indexes. The five categorical indices and their weights are based on their initial impact on the economy. Specific include: new order index, weight is 30%; The production index is 25%; The number of employees is 20%; The supplier delivery time index, which is 15%; Raw material inventory index, weight is 10%. Among them, the supplier delivery time index is the inverse index, which is reversed in the composite PMI composite index.


5. Seasonal adjustment


The survey of purchasing managers is a monthly survey, which is affected by seasonal factors and fluctuates greatly. The published PMI composite index and the sub-index are all seasonally adjusted data. In January 2017, we improved the seasonal adjustment method for the expected index of production and operation activities, and revised historical data.


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