BUSINESS China's industrial production keeps expanding, indicated by latest PMI numbers

BUSINESS

China's industrial production keeps expanding, indicated by latest PMI numbers

Global Times

13:36, May 31, 2021

A worker makes glassware in Qixian County, north China's Shanxi Province, May 26, 2021. Glassware made in Qixian County has been exported to over 80 countries and regions.(Photo: Xinhua)

China's manufacturing activity has kept expanding in May as the official manufacturing Purchasing Manager's Index (PMI) reached 51.0 percent for May, which is a slight 0.1 percentage point down from the previous month, data from the National Bureau of Statistics NBS released on Monday showed.

The PMI of large and medium-sized enterprises reached 51.8 percent and 51.1 percent, respectively, in May, up by 0.1 percentage point and 0.8 percentage points over the previous month. The PMI for small enterprises was 48.8 percent, which is down 2.0 percent from April.

The production index increased 0.5 percentage points than the previous month to 52.7 percent, representing a strengthening of industry's manufacturing production in May.

The new order index went down to 51.3 percent, a decrease of 0.7 percentage points from April, which indicated the demand for manufacturing market slowed down in May.

The inventory index of raw materials fell to 47.7 percent from last month, down 0.6 percentage points, showing the inventories of majorly consumed raw material was reduced.

The employee index decreased 0.7 percentage points to 48.9 percent in May, expressing a reduction of employment in manufacturing enterprises.

The delivery time index of suppliers was 47.6 percent in May, down 1.1 percentage points compared with last month, meaning the delivery time of manufacturing raw materials from suppliers was further extended.

The non-manufacturing business activity index reached 55.2 percent in May, an increase of 0.3 percentage points than April, showing t non-manufacturing sector picking up its pace in expansion.

The comprehensive PMI output index reached 54.2 percent, an increase of 0.4 percentage points from the previous month, reflecting how China's production and operation activities have expanded steadily in May.

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