In August, PMI Hit A 9 Month Low, And The Textile Industry Is Still Trapped.

China's logistics and purchasing Federation and the National Bureau of Statistics Service Industry Survey Center released PMI in August, China's manufacturing industry was 49.2%, down 0.9 percentage points from last month, indicating that the current economy is still in the downward process. But combined with the main sub items index Changes, the current economic downturn in the bottom gradually.

From the 11 sub index, only the production index is slightly higher than 50%, and the remaining index is at 50% or below 50%. Compared with the previous month, production index, new order index, raw material inventory index and employment index decreased, of which raw material inventory index decreased more than 3 percentage points; the new export order index was 46.6%, unchanged from last month; backlog order index, production inventory index, purchase index, import index, purchase price index, supplier delivery time index increased, the purchase price index rose significantly, the increase was 5.1 percentage points.

In terms of industry, petroleum processing and coking industry, food and alcoholic beverage refining tea manufacturing industry, tobacco products industry and other 9 industries are higher than 50%; electrical machinery and equipment manufacturing industry, non-metallic mineral products industry, chemical raw materials and chemical products manufacturing industry and other 12 industries are below 50%. From the sub regional perspective, the west is slightly higher than 50%, while the eastern, central and northeastern regions are all below 50%. From the scale of enterprises, large, medium and small enterprises are below 50%.

In view of the survey of purchasing managers in manufacturing industry in August, Zhang Liqun, an analyst with special analysts, said: "in August, the PMI index continued to decline and the decline was increased. The absolute level dropped to below 50%. From the perspective of the index itself, it reflected that the manufacturing industry was in a state of contraction. Judging from the sub index, the new order index fell by 0.3 percentage points, the new export orders index was flat last month, the backlog order index increased significantly, the purchase price index increased significantly, the raw material inventory index dropped significantly, and the finished goods inventory index rose slightly. These changes indicate that the level of orders held by enterprises is stabilizing, and the anticipation of rising prices is beginning to simmering, and the activities of reducing inventory and controlling operating rate are coming to an end. From the perspective of market demand, the effect of "steady growth" policy is constantly emerging. Since June, domestic investment and consumption growth have stabilized, and export growth has dropped sharply in July. However, from the change of PMI export orders index in August, the growth rate of export growth in the future may recover. The growth of enterprise order growth supported by market demand will show a steady trend. Affected by this, more than half a year's inventory activity is expected to end. The overall production level of the manufacturing industry is expected to recover smoothly, and the economic growth rate is expected to end.

The new order index declined slightly. This month's new order index was 48.7%, down 0.3 percentage points from last month. From the industry perspective, 10 industries, such as food and alcoholic beverages, refined tea manufacturing, computer communication and electronic equipment and instrumentation manufacturing, agricultural and sideline food processing, and so on, are over 50%, and 11 industries such as special equipment manufacturing, ferrous metal smelting, calendering processing and textile industry are below 50%.

From the scale of enterprises, medium-sized enterprises are above 50%, while large and small enterprises are below 50%.

Production index continues to fall. This month's production index was 50.9%, down 0.9 percentage points from last month. From the industry perspective, 13 industries, such as food and alcoholic beverages, refined tea manufacturing, petroleum processing and coking, computer communication, electronic equipment and instrumentation manufacturing, are over 50%, and 8 industries such as special equipment manufacturing, ferrous metal smelting, calendering processing and textile industry are below 50%.

From the regional perspective, the eastern, central and western regions are above 50%, while the northeast is below 50%. From the scale of enterprises, large and medium-sized enterprises are higher than 50%, while small and micro enterprises are below 50%.

The index of new export orders is flat and import index is rising. This month's new export orders index was 46.6%, unchanged from last month. From the industry perspective, the 8 industries of agricultural and sideline food processing industry, food and alcoholic beverage refining tea manufacturing industry, computer communication and electronic equipment and instrument manufacturing industry are higher than 50%;

　　 Spin Industry, ferrous metal smelting and calendering processing industry and other 13 industries are below 50%.

Import index was 47% this month, up 2 percentage points from last month. From the industry perspective, petroleum processing and coking industry, computer communication and electronic equipment and instrumentation manufacturing industry, railway ship, aerospace and transportation equipment manufacturing industry and so on 6 industries are higher than 50%; chemical raw materials and chemical products manufacturing industry is located at 50%; metal products, pharmaceutical manufacturing, wood processing and furniture manufacturing industries and 14 industries are below 50%.

Purchasing volume index picked up. The purchasing volume index was 48.8% this month, up 2 percentage points from last month. From the industry perspective, 11 industries, including food and alcoholic beverages, refined tea manufacturing, computer communication and electronic equipment, instrumentation manufacturing, petroleum processing and coking, are over 50%, while ferrous metal smelting and calendering processing, special equipment manufacturing, and metal products industry are below 50% in 10 industries. From the regional perspective, the central region is higher than 50%, while the eastern, northeast and western regions are all below 50%.

The purchase price index picked up. The purchase price index was 46.1% this month, up 5.1 percentage points from last month. From the industry perspective, 8 industries, such as petroleum processing and coking industry, agricultural and sideline food processing industry, chemical fiber and rubber plastic products industry, tobacco products industry and pharmaceutical manufacturing industry, are over 50%, while ferrous metal smelting and calendering processing industry, metal products industry, special equipment manufacturing industry and other 13 industries are below 50%. from enterprise In terms of scale, small and micro enterprises are higher than 50%; large and medium-sized enterprises are below 50%.