China's Non-manufacturing PMI was 54.0 Percent in April
Department of Service Statistics of NBS
China Federation of Logistics and Purchasing (CFLP)
In April 2017, China's non-manufacturing purchasing manager index was 54.0 percent, a decrease of 1.1 percentage points over the previous month, and an increase of 0.5 percentage points over the same period last year. The expansion trend of non-manufacturing industry continued, while the growth slowed down.
In view of different industries, non-manufacturing purchasing manager index of service industry was 52.6 percent, a decrease of 1.6 percentage points over the previous month, and an increase of 0.1 percentage point over the same period last year. The service industry continued to keep on growing generally. Of which, the indices of retail trade, transport via railway, air transport, post, accommodation, telecommunications, broadcasting, television and satellite transmission services, Internet, software and information technology services, were positioned in the high level of the range which above 55.0 percent, and the total enterprise business increased rapidly. The indices of transport via road, real estate, resident services and repair, were below the threshold, and the total business continued to decrease. Non-manufacturing purchasing manager index of construction industry achieved 61.6 percent, an increase of 1.1 percentage points over the previous month, and the expansion continued to be accelerated.
New orders index was 50.5 percent, down by 1.4 percentage points over the previous month, positioned in the expansion range, indicating that the growth of the non-manufacturing market demand declined. In view of different industries, the new orders index of service industry was 49.7 percent, decreased 2.0 percentage points over the previous month, and was lower than the threshold. The new orders index of construction industry was 55.4 percent, increased 2.1 percentage points over the previous month, and continued to be higher than the threshold.
Input price index was 51.7 percent, down by 0.6 percentage points over the previous month, and was still in the expansion range, indicating that the input price during the process of production and operation of non-manufacturing enterprises continued to increase, while the amount of increase declined. In view of different industries, the intermediate input price indices of service industry was 51.5 percent, increased 0.5 percentage points over the previous month. The input price index of construction industry was 52.8 percent, a decrease of 7.0 percentage points over the previous month.
The sales price index was 50.2 percent, up by 0.5 percentage points over last month, and returned above the threshold, indicating that the overall level of non-manufacturing sales price increased. In view of different industries, the sales price index of service industry was 49.7 percent, an increase of 0.8 percentage points over the previous month. The sales price index of construction industry was 53.1 percent, a decrease of 1.2 percentage points over the previous month.
Employment index was 49.5 percent, increased 0.4 percentage points over the previous month, and was still lower than the threshold, indicating the pace of decline of non-manufacturing enterprises’ labor employment narrowed down. In view of different industries, the employment index of service industry was 49.1 percent, an increase of 0.3 percentage points over the previous month. The employment index of construction industry was 51.9 percent, an increase of 1.1 percentage points over the previous month.
Business activities expectation index was 59.7 percent, a decrease of 1.6 percentage points over last month, but was still positioned in the high level of the range.
| Main Indices of China's Non-manufacturing PMI (Seasonally adjusted) | ||||||
| Unit: % | ||||||
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| Non-manufacturing PMI | New Orders Index | Input Price Index | Sales Price Index | Employment Index | Business Activities Expectation Index |
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| 2016-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 |
| March | 55.1 | 51.9 | 52.3 | 49.7 | 49.1 | 61.3 |
| April | 54.0 | 50.5 | 51.7 | 50.2 | 49.5 | 59.7 |
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| Other Indices of China's Non-manufacturing PMI (Seasonally adjusted) | ||||
| Unit: % | ||||
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| Foreign New Orders Index | Unfilled Orders Index | Stock Index | Supplier Delivery Time Index |
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| 2016-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 |
| March | 48.8 | 44.7 | 45.8 | 51.4 |
| April | 47.1 | 44.0 | 46.2 | 52.0 |
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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.