The Service Industry Survey Center of the National Bureau of Statistics and the China Federation of Logistics and Purchasing released data on October 31st. In October, the Purchasing Managers' Index (PMI) of China's manufacturing industry was 49.5%, a decrease of 0.7 percentage points from the previous month, falling to the contraction range, and the level of manufacturing industry prosperity has declined. In October, due to factors such as the '11th' holiday vacation and the early release of pre holiday demand, the PMI prosperity level of the manufacturing industry has declined, "said Zhao Qinghe, a senior statistician at the Service Industry Survey Center of the National Bureau of Statistics. The production index continues to expand, and demand has declined. Affected by factors such as a high base in September and a decrease in working days in October, the production index in October was 50.9%, a decrease of 1.8 percentage points from the previous month, still above the critical point, and the production prosperity level of manufacturing enterprises remained expanding. The new order index was 49.5%, a decrease of 1 percentage point from the previous month. The market is expected to stabilize and improve. In October, the expected index of production and business activities was 55.6%, an increase of 0.1 percentage points compared to the previous month. It has been in a high economic range for four consecutive months, and manufacturing enterprises have stable confidence in market development. From an industry perspective, the expected index of production and operation activities in industries such as agricultural and sideline food processing, wood processing and furniture, papermaking and printing, cultural, educational, aesthetic, and entertainment products, automobiles, railways, ships, aerospace equipment, etc. are all in the high prosperity range of over 60%. Enterprises are optimistic about the development prospects of the industry. Large enterprise PMI continues to exceed the critical point. In October, the PMI of large enterprises was 50.7%, which continued to be in the expansion range. Especially, their production index and new order index were above the critical point, and the production and demand of enterprises were relatively stable; The PMI of small and medium-sized enterprises was 48.7% and 47.9% respectively, a decrease of 0.9 and 0.1 percentage points compared to the previous month, indicating a slight decline in the economic level. The price index has decreased. Zhao Qinghe stated that due to factors such as the recent decline in some commodity prices and the decline in market demand, the main raw material purchase price index and factory price index in October were 52.6% and 47.7%, respectively, a decrease of 6.8 and 5.8 percentage points compared to the previous month. (New News Agency)
Edit：Hou Wenzhe Responsible editor：WeiZe
Source：XinhuaNet
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