China's Non-manufacturing PMI was 54.3 Percent in October
National Bureau of Statistics of China2017-10-31 15:48




Department of Service Statistics of NBS

China Federation of Logistics and Purchasing (CFLP)

 

In October 2017, China's non-manufacturing purchasing manager index was 54.3 percent, a decrease of 1.1 percentage points from the previous month, and continued to be in the expansion range. The non-manufacturing industry kept steady and fast growth momentum. 

 

 

In view of different industries, non-manufacturing purchasing manager index of service industry was 53.5 percent, a decrease of 0.9 percentage points from the previous month, but higher than the threshold. The service industry kept growing steadily. Of which, the indices of accommodation, retail trade, air transport, post and express delivery, 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 kept fast growth. The indices of capital market services, real estate, resident services and repair, were lower than the threshold, and the total business decreased. Non-manufacturing purchasing manager index of construction industry achieved 58.5 percent, a decrease of 2.6 percentage points from the previous month, and still in the high level of the range. The production of construction industry maintained rapid growth generally. 

 

New orders index was 51.1 percent, down by 1.2 percentage points from the previous month, and was still above the threshold, indicating that the growth rate of non-manufacturing market demand declined. In view of different industries, the new orders index of service industry was 50.5 percent, decreased 1.0 percentage point from the previous month, and was higher than the threshold. The new orders index of construction industry was 54.1 percent, decreased 2.8 percentage points from the previous month, and continued to be in the expansion range.

 

Input price index was 54.3 percent, down by 1.8 percentage points from the previous month, and was above the threshold, indicating that the input price during the process of non-manufacturing enterprises’ operating activities continued to increase, while the amount of increase narrowed. In view of different industries, the intermediate input price indices of service industry was 53.1 percent, decreased 1.1 percentage point from the previous month. The input price index of construction industry was 61.4 percent, a decrease of 5.6 percentage points from the previous month.

 

The sales price index was 51.6 percent, down by 0.1 percentage point from last month, and was above the threshold, indicating that the non-manufacturing sales price continued to increase. In view of different industries, the sales price index of service industry was 51.1 percent, an increase of 0.1 percentage point from the previous month.The sales price index of construction industry was 54.6 percent, a decrease of 0.6 percentage points from the previous month.

 

Employment index was 49.4 percent, a decrease of 0.3 percentage points from the previous month, and was still lower than the threshold, indicating that the labor employment of non-manufacturing enterprises continued to decrease. In view of different industries, the employment index of service industry was 48.6 percent, an increase of 0.1 percentage point from the previous month. The employment index of construction industry was 53.6 percent, a decrease of 2.8 percentage points from the previous month.

 

Business activities expectation index was 60.6 percent, a decrease of 1.1 percentage points from last month, and continued to be in the high level of the range. In view of different industries, the business activities expectation index of service industry was 60.1 percent, a decrease of 0.7 percentage points from the previous month. That of construction industry was 63.2 percent, a decrease of 3.8 percentage points from the previous month.

 

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-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

May

54.5

50.9

51.1

48.8

49.0

60.2

June

54.9

51.4

51.2

49.3

49.6

61.1

July

54.5

51.1

53.1

50.9

49.5

61.1

August

53.4

50.9

54.4

51.5

49.5

61.0

September

55.4

52.3

56.1

51.7

49.7

61.7

October

54.3

51.1

54.3

51.6

49.4

60.6

 

 

 

 

 

 

 

 

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-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

May

48.5

43.7

46.1

51.8

June

49.8

44.6

45.9

51.8

July

52.1

43.9

45.9

51.7

August

49.0

44.0

45.5

51.1

September

49.7

44.2

47.0

51.6

October

50.7

43.9

46.4

51.1

 

 

 

 

 

 

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. 

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