Industry News

Company News Industry News

The PMI fell to 49.2%! Statisticians point to a slump in energy-intensive industries as the main culprit

The manufacturing purchasing managers' index (PMI) stood at 49.2 percent in October, down 0.9 percentage points from the previous month and below the critical point, according to the website of the National Bureau of Statistics. The non-manufacturing business activity index was 48.7 percent in October, down 1.9 percentage points from the previous month and below the critical point.

https://img.welllinkio.com//upload/20221104/e7f63a5d6b2fba216cd5d7f30c26cf0d.jpg

The purchasing managers' index (PMI) for the manufacturing sector was 49.2 percent in October, down 0.9 percentage points from the previous month and below the critical point.

  

In terms of enterprise size, the PMI of large enterprises was 50.1%, down 1.0 percentage points from the previous month and still above the critical point. The PMI of medium and small enterprises was 48.9 percent and 48.2 percent, respectively, down 0.8 and 0.1 percentage points from the previous month, continuing to remain below the critical point.

  

In terms of the sub-indexes, the five sub-indexes that constitute the manufacturing PMI are all below the critical point. The production index was 49.6 percent, down 1.9 percentage points from the previous month, indicating a slowdown in manufacturing production. The new orders index was 48.1 percent, down 1.7 percentage points from the previous month, indicating that demand in the manufacturing market continues to decline. The raw materials inventory index was 47.7 percent, up 0.1 percentage points from the previous month, indicating that the decline in inventories of major raw materials in the manufacturing sector narrowed slightly.

 

The employment index was 48.3 percent, down 0.7 percentage points from the previous month, indicating that the employment sentiment of manufacturing companies has decreased. The supplier delivery time index was 47.1 percent, down 1.6 percentage points from the previous month, indicating that the delivery time of manufacturing raw material suppliers continued to slow down.

  

The decline of the PMI index in October was mainly due to three factors. First, seasonal factors, historically speaking, the level of the index in October is lower than that in September in most years. Second, the domestic epidemic disturbance in October. Third, frequent fluctuations in international commodities have had a continuing impact on the domestic economy.


Weakness in energy-intensive industries was one of the main reasons for the October manufacturing PMI's decline. The PMI for energy-intensive industries was 48.8%, 1.8 percentage points lower than the previous month, falling into contraction territory. In this month, 56.7 percent of enterprises in energy-intensive industries reported a lack of market demand, 3.9 percentage points higher than the overall figure.


The above is the wonderful content brought to you by Nanjing remote IO manufacturer Decowell. For more details, welcome to Nanjing Decowell's official website!