China's manufacturing purchasing managers' index was 51.7% in June 2017
China's manufacturing purchasing managers' index was 51.7% in June 2017
In the first half of 2017 manufacturing PMI average was 51.5%, 1.7% higher than the same period last year, this month's manufacturing PMI is 51.7%, rose by 0.5%, The Times of high for years, manufacturing expansion accelerated pace, overall stability to the good development momentum. Main features of this month:
First, supply and demand growth accelerated and the market environment gradually improved. The index of production and new orders was 54.4 percent and 53.1 percent, respectively, up 1.0 and 0.8 percentage points from the previous month. Among them, the black metal smelting and rolling processing industry on the supply side under the action of structural reform deepening, the supply and demand structure improvement, production index and the new orders index expansion range, respectively 7.2 and 5.3% higher than last month.
Second, domestic and foreign demand recovered, and the import and export continued to stabilize. The index and import index of new export orders were 52.0% and 51.2%, respectively, higher than last month's 1.3 and 1.2 percentage points respectively, which were at the critical point and above for eight consecutive months, and were at the highest point of the year.
Third, the industrial structure optimization and upgrading, the supply quality keeps improving. The equipment manufacturing and technology manufacturing PMI was 53.0% and 53.6%, up from 0.9 and 1.0 per cent respectively last month. Among them, the manufacturing of pharmaceutical manufacturing, electrical machinery and equipment manufacturing, and general equipment manufacturing PMI are all in the high economic zone of more than 54.0%, and the industry has a strong momentum of development.
Fourth, the purchasing intention of enterprises has been enhanced and the price index has recovered. This month, the purchasing volume index was 52.5 percent, up from 1.0 percent last month and corporate procurement activity accelerated. The main raw material purchase price index was 50.4 percent, 0.9 percentage points higher than the previous month, returning to the expansion range. The factory-gate index has recovered from a three-month pullback to 49.1 percent this month, up 1.5 percentage points from the previous month.
Despite the overall pick-up in the PMI, some traditional industries have some difficulty in producing and operating. According to the survey, oil processing and coking industry, chemical raw materials and chemical products manufacturing industry, chemical fiber and rubber plastic products, nonmetallic mineral products and other industries the PMI continuous below the critical point, downward pressure is still there. In addition, the proportion of the enterprises that reflect the financial strain has exceeded 40% for four consecutive months, and the support of the financial services entity economy still needs to be strengthened further.
In terms of size of enterprises, the large enterprise PMI was 52.7%, up 1.5 percentage points from the previous month, and the expansion rate was accelerated. The medium-sized enterprise PMI was 50.5 percent, down from 0.8 percent last month and has been expanding since the beginning of the year. The small business PMI was 50.1 per cent, down 0.9 percentage points from the previous month but remains above the tipping point.
