In April 2019, The PMI Of China's Manufacturing Industry Was 50.1%.

　　 1. Operation of purchasing managers index of China's manufacturing industry

In April 2019, China's Manufacturing Purchasing Managers Index (PMI) was 50.1%, down 0.4 percentage points from last month, and continued to expand in the expansion area.

From the scale of enterprises, the PMI of large enterprises is 50.8%, lower than that of last month's 0.3 percentage points, higher than the critical point; the PMI of medium-sized enterprises is 49.1%, lower than that of last month's 0.8 percentage points, and is located below the critical point; small enterprises PMI is 49.8%, higher than last month's 0.5 percentage points, reaching the critical point.

According to the classification index, the production index and the new order index are higher than the critical point in the 5 classification indices of manufacturing PMI. Raw material inventory index, employee index and supplier delivery time index are below the critical point.

The production index is 52.1%, down 0.6 percentage points from last month, above the critical point, indicating that the pace of manufacturing expansion has slowed down.

The new order index was 51.4%, a slight decrease of 0.2 percentage points from last month, which is above the critical point, indicating that the manufacturing market demand is generally stable.

The stock index of raw materials was 47.2%, down 1.2 percentage points from last month, which is below the critical point, indicating that the main raw material inventory of the manufacturing industry has dropped.

The employment index is 47.2%, down 0.4 percentage points from last month, which is below the critical point, indicating that the number of manufacturing enterprises has decreased.

The supplier delivery time index was 49.9%, down 0.3 percentage points below last month, below the critical point, indicating that the delivery time of manufacturing raw material suppliers slowed slightly.

　　 Two. Operation of China's non Manufacturing Purchasing Managers Index

In April 2019, China's non manufacturing business activity index was 54.3%, down 0.5 percentage points from last month, but still in a relatively high expansion range, indicating that the non manufacturing sector has maintained a relatively fast growth trend.

According to the industry, the business activity index of the service industry was 53.3%, down 0.3 percentage points from last month, and the service industry continued to maintain growth, and the growth rate slowed down. In terms of industry, business activities index such as water spanport industry, air spanport industry, postal industry, telecommunications broadcasting and satellite spanmission services, monetary and financial services and insurance industries are located in the higher economic climate range of more than 57%, business activities are more active, and the business activity index of road spanport industry and other industries is below the critical point, and the total business volume has dropped. The construction business activity index was 60.1%, down 1.6 percentage points from last month, and for two consecutive months, it was located in the high economic zone, and the construction industry maintained rapid growth.

The new order index is 50.8%, down 1.7 percentage points from last month, and continues to be above the critical point, indicating that the demand for non manufacturing market is slowing down. According to the industry, the new order index of the service sector was 50.2%, down 1.3 percentage points from last month, above the critical point; the construction industry new order index was 54.6%, down 3.3 percentage points from last month.

The price index of the input products was 53%, up 0.5 percentage points from last month, which is above the critical point, indicating that the overall price level of the non manufacturing enterprises for the business activities has increased. According to the industry, the price index of the service industry input is 52.5%, up 0.3 percentage points from last month, and the construction industry input price index is 56.1%, up 2.1 percentage points from last month.

The sales price index was 50.5%, down 0.5 percentage points from last month, above the critical point, indicating that the overall level of non manufacturing sales prices continued to rise or narrowed. According to the industry, the sales price index of the service sector was 50.1%, down 0.5 percentage points from the previous month, and the construction industry sales price index was 53.1%, down 0.1 percentage points from last month.

The employment index was 48.7%, unchanged from last month, continuing below the critical point, indicating a decrease in the labor volume ratio of non manufacturing enterprises. According to the industry, the index of service industry employees was 48.5%, up 0.7 percentage points from last month, and the construction industry employment index was 50.2%, down 3.9 percentage points from last month.

The business activity expectation index is 60.3%, down 0.8 percentage points from last month, and is still in the high and high economic zone, indicating that the non manufacturing enterprises continue to be optimistic about the market development. According to the industry, the service sector business activity index is 60%, down 0.3 percentage points from last month, and the construction industry activity activity index is 61.9%, down 3.8 percentage points from last month.

　　 Three. Operation of China's comprehensive PMI output index

In April 2019, the composite PMI output index was 53.4%, down 0.6 percentage points from last month, indicating that the overall production and operation activities of Chinese enterprises continued to expand, but the pace slowed down.