China's Non-manufacturing PMI was 54.2 Percent in February

National Bureau of Statistics of China 2017-03-02 14:41 Print| Large| Medium| Small

Department of Service Statistics of NBS

China Federation of Logistics and Purchasing (CFLP)

 

In February 2017, China's non-manufacturing purchasing manager index was 54.2 percent, a decrease of 0.4 percentage points over the previous month, and continued a rapid growth trend generally.

 

 

 

In view of different industries, non-manufacturing purchasing manager index of service industry was 53.2 percent, a decrease of 0.3 percentage points over the previous month, and the overall operation of the service industry was stable. Of which, the indices of transport via railway, telecommunications, broadcasting, television and satellite transmission services, Internet, software and information technology services, monetary financial services, insurance, continued to be positioned in the high level of the range which above 55.0 percent. The indices of retail trade, transport via road, restaurants, real estate, resident services and repair, were below the threshold, and the total business decreased. Non-manufacturing purchasing manager index of construction industry achieved 60.1 percent, a decrease of 1.0 percentage point over the previous month, while still being positioned in the high level of the range.

 

New orders index was 51.2 percent, down by 0.1 percentage point over the previous month, and was higher than the threshold, indicating that the market demand of the non-manufacturing industry kept growing, while the growth slowed down. In view of different industries, the new orders index of service industry was 50.5 percent, increased 0.2 percentage points over the previous month, and continued to be higher than the threshold. The new orders index of construction industry was 54.8 percent, decreased 2.3 percentage points over the previous month, but was still positioned in the expansion range.

 

Input price index was 53.7 percent, down by 1.4 percentage points over the previous month, and was still higher than the threshold, indicating that the input price during the process of production and operation of non-manufacturing enterprises continued to increase, while the amount of increase narrowed. In view of different industries, the intermediate input price indices of service industry was 52.2 percent, decreased 2.7 percentage points over the previous month. The input price index of construction industry was 61.6 percent, an increase of 5.1 percentage points over the previous month.

 

The sales price index was 51.4 percent, up by 0.4 percentage points over last month, still positioned in the expansion range, indicating that the overall level of non-manufacturing sales price continued to increase, and the amount of increase expanded. In view of different industries, the sales price index of service industry was 51.1 percent, an increase of 0.5 percentage points over the previous month. The sales price index of construction industry was 53.3 percent, an increase of 0.4 percentage points over the previous month.

 

Employment index was 49.7 percent, decreased 0.1 percentage point over the previous month, and staying below the threshold for two consecutive months, indicating the labor employment of non-manufacturing enterprises decreased. In view of different industries, the employment index of service industry was 48.4 percent, a decrease of 0.2 percentage points over the previous month. The employment index of construction industry was 57.1 percent, an increase of 0.9 percentage points over the previous month.

 

Business activities expectation index was 62.4 percent, an increase of 3.5 percentage points over last month, and was positioned in the high level of the range. 

 

Main Indices of China's Non-manufacturing PMI (Seasonally adjusted)

Unit: %

 

Non-manufacturing

PMI

New Orders Index

Input Price Index

Sales Price Index

Employment Index

Business Activities Expectation Index

 

 

 

 

 

 

 

2016-February

52.7

48.7

50.5

48.3

48.9

59.5

March

53.8

50.8

51.4

49.5

48.2

59.0

April

53.5

48.7

52.1

49.1

49.2

59.1

May

53.1

49.2

51.6

49.8

49.1

57.8

June

53.7

50.8

51.6

50.6

48.7

58.6

July

53.9

49.9

51.4

49.5

48.5

59.5

August

53.5

49.8

52.6

50.4

49.1

59.4

September

53.7

51.4

51.7

50.1

49.7

61.1

October

54.0

50.9

53.7

51.5

50.0

60.6

November

54.7

51.8

53.5

51.4

50.6

60.7

December

54.5

52.1

56.2

51.9

50.0

59.5

2017-January

54.6

51.3

55.1

51.0

49.8

58.9

February

54.2

51.2

53.7

51.4

49.7

62.4

 

 

 

 

 

 

 

 

 

Other Indices of China's Non-manufacturing PMI (Seasonally adjusted)

Unit: %

 

Foreign New Orders Index

Unfilled Orders Index

Stock Index

Supplier Delivery Time Index

 

 

 

 

 

2016-February

47.7

42.9

45.4

51.6

March

47.8

43.4

45.9

51.4

April

45.7

43.6

45.4

51.8

May

49.5

43.6

45.6

51.4

June

48.6

43.1

46.0

52.3

July

47.5

42.8

46.3

51.9

August

48.8

43.0

45.5

51.7

September

48.3

43.6

45.9

52.0

October

51.4

44.0

45.3

51.4

November

50.9

44.2

45.8

51.5

December

48.9

44.0

47.2

51.6

2017-January

46.4

44.6

46.2

51.4

February

50.1

43.5

45.8

52.1

 

 

 

 

 

 

 

Annotations:

 

1. Explanatory Notes

 

China non-manufacturing purchasing manager index system constituted by 10 sub-indices, they are business activity index, new orders index, new export orders index in hand orders index, stock index, input price index, sales price index, employment index, supplier delivery time index, and business activities expectation index. Due to the lack of synthesis of non-manufacturing integrated PMI index, the international society often used business activity index to reflect the overall changes in non-manufacturing economic development, A PMI reading above 50 percent indicates expansion from the previous month, while below indicates contraction.

 

2. Statistical Coverage

 

The survey involves 31 non-manufacturing industry divisions in the “Industrial Classification for National Economic Activities" (GB/T4754-2011), and was conducted in 4000 sampling enterprises of the non-manufacturing sector countrywide.

 

3. Survey Methods

 

Non-manufacturing purchasing managers’ survey was conducted in PPS ( Probability Proportional to Size) sampling method, using the non-manufacturing sectors as the selecting layers, distribution of sample size was according to their value-added accounted for the proportion of total non-manufacturing value-added, and samples within layers and the main business revenue of the enterprises were selected by the PPS.

 

The survey was organized and conducted by staff members of survey offices, monthly through Online Reporting System of NBS by sending survey questionnaires to the purchasing managers of the selected enterprises.

 

4. Calculation Methods

 

Non-manufacturing purchasing managers survey involves 10 questions on production, new orders (business required), export, existing orders, finished goods inventory, intermediate input price, subscription price, employees, suppliers delivery time, and business activities expectation. Diffusion index was calculated on each question, i.e. percentage of positive answers in number of enterprises plus half of the percentage in the same answers.

 

5. Seasonal Adjustment Note

 

The purchasing managers survey is a monthly survey, great fluctuations of data which affected by seasonal factors. The sub-indices of non-manufacturing PMI data released currently were all seasonally adjusted.