According to the website of the National Bureau of Statistics on the 31st, Zhao Qinghe, senior statistician of the service industry survey center of the National Bureau of Statistics, interpreted China's purchasing managers index in December 2023, said that the manufacturing purchasing managers index fell in December, and the non-manufacturing business activity index rose slightly. In December, the manufacturing purchasing managers' index was 49.0%, down 0.4 percentage points from the previous month; The non-manufacturing business activity index was 50.4%, up 0.2 percentage points from the previous month; The composite PMI output index was 50.3%, 0.1 percentage points lower than the previous month, and the overall output prosperity level of China's economy remained stable. In December, affected by factors such as the off-season production of some basic raw material industries, the manufacturing PMI fell 0.4 percentage points from the previous month, and the prosperity level has fallen.
The production index continues to expand. The production index was 50.2%, down 0.5 percentage points from the previous month, still higher than the critical point, and the production of manufacturing enterprises has maintained expansion for seven consecutive months. From the perspective of industry, the production index of wood processing and furniture, metal products, general equipment, electrical machinery and other industries was higher than 54.0%, and the production of related industries grew rapidly; The production index of textile, petroleum, coal and other fuel processing, non-metallic mineral products and other industries is lower than the critical point, and the production capacity of enterprises is insufficient. The new orders index fell. The new orders index was 48.7%, down 0.7 percentage points from the previous month, and the demand of the manufacturing market was weak. From the perspective of industry, the new order index of metal products, railway ship aerospace equipment, computer communication electronic equipment and other industries continued to be above the critical point, and the market demand of related industries maintained expansion; The new order index of textile and clothing, chemical raw materials and chemical products, non-metallic mineral products and other industries is low, and the market demand is still insufficient. New growth drivers continue to grow. In terms of key industries, the PMI of high-tech manufacturing and equipment manufacturing were 50.3% and 50.2%, respectively, higher than the overall level of the manufacturing industry, and continued to expand. The PMI of the consumer goods industry was 49.4%, and the prosperity level fell. The PMI of the energy-intensive industry was 47.4%, 1.6 percentage points lower than the overall level of the manufacturing industry, and the prosperity level was low.
Market expectations are stable. The expected index of production and business activities was 55.9%, an increase of 0.1 percentage points over the previous month, which was in the higher economic zone for six consecutive months, and manufacturing enterprises' confidence in market development was stable. From the perspective of the industry, driven by the New Year's Day and the Spring Festival approaching, the expected index of production and operation activities of agricultural and sideline food processing, food and wine and beverage refined tea and other consumer goods industries rose to more than 60.0% of the high boom range, and enterprises have strong confidence in the recent development of the industry. From a global perspective, the manufacturing industry of major economies such as Europe and the United States has continued to contract this year, and the preliminary manufacturing PMI of the United States and the eurozone in December was 48.2% and 44.2%, respectively. At present, the complexity, severity and uncertainty of the external environment are rising, and some enterprises in the survey said that the reduction of overseas orders combined with insufficient domestic effective demand is the main difficulty faced by enterprises. Non-manufacturing business activity index rebounded In December, the non-manufacturing business activity index was 50.4%, up 0.2 percentage points from the previous month, and the expansion of non-manufacturing industry accelerated.
Business activity in the services sector was unchanged from the previous month. The business activity index for the service sector was 49.3 percent, the same as the previous month. From the perspective of industry, affected by the recent cold wave and other factors, the market activity of some service industries related to travel consumption is weak, among which the business activity index of water transport, air transport, accommodation, residential services and other industries is lower than 46.0%; At the same time, the business activity index of postal, telecommunications, radio, television and satellite transmission services, monetary and financial services, insurance and other industries is located in the higher boom range of more than 55.0%, and the total business volume continues to grow rapidly. From the perspective of market expectations, the business activity expectation index was 59.4%, up 0.1 percentage points from the previous month, and service enterprises continued to remain optimistic about the recent recovery of the industry. Construction business activity index expansion accelerated. The business activity index of the construction industry was 56.9%, up 1.9 percentage points from the previous month, and some enterprises accelerated the construction progress before the Spring Festival holiday, and the construction industry boom level has rebounded. From the perspective of market expectations, the business activity expectation index is 65.7%, which has been located in the high boom range since this year, and the construction industry enterprises are expected to stabilize and improve the market development. The composite PMI output index was basically flat in December, and the composite PMI output index was 50.3%, slightly lower than the previous month by 0.1 percentage points, still higher than the critical point, indicating that the overall production and operation activities of Chinese enterprises maintained expansion. The manufacturing production index and non-manufacturing business activity index, which make up the composite PMI output index, were 50.2% and 50.4%, respectively.
