The synchronous rebound of the index reflects the warmth of economic recovery
2024-04-09
The logistics industry prosperity index, warehousing index, commodity price index, manufacturing procurement manager index... Recently, multiple indices were released intensively in March, showing a month on month increase and recovery trend. Multiple analyses have pointed out that as an important reference for economic operation, major indices have rebounded simultaneously, demonstrating the continued positive trend of China's economy and the continuous enhancement of endogenous driving force. The recovery and improvement of the economic prosperity level is a common feature of several newly released indices in recent times. The prosperity index of China's logistics industry in March was 51.5%, an increase of 4.4 percentage points compared to the previous month. The main sub indices such as the total business volume index, new order index, and inventory turnover index have all increased comprehensively. "Data shows that in March, upstream and downstream activities in the supply chain became more active, logistics demand recovered faster, enterprise operational efficiency improved, industry investment growth and market expectations continued to consolidate," said Hu Han, an analyst at China Logistics Information Center. The China Warehousing Index was 52.6% in March, an increase of 8.1 percentage points from the previous month, returning to the expansion range. Major indicators such as new orders, facility utilization, end of period inventory, and average inventory turnover have all significantly rebounded. "Against the backdrop of the overall recovery of the domestic macroeconomic situation, warehousing business activities have become significantly active, commodity turnover efficiency has significantly accelerated, enterprise expectations have improved, and stocking enthusiasm has increased." said Wang Yong, Vice President of China National Reserve Development Co., Ltd. The China Commodity Price Index for March was 112, an increase of 0.6% compared to the previous month. "This indicates that with the continuous efforts of various stable economic policies, market confidence has been restored, downstream consumption has gradually rebounded, and the economic operation is showing a recovery and improvement trend." The China Federation of Logistics and Purchasing issued a document. The China Purchasing Managers Index recently released by the National Bureau of Statistics also showed that in March, the Manufacturing Purchasing Managers Index, Non Manufacturing Business Activity Index, and Comprehensive PMI Output Index were 50.8%, 53.0%, and 52.7%, respectively, an increase of 1.7, 1.6, and 1.8 percentage points from the previous month. Zhao Qinghe, a senior statistician at the Service Industry Survey Center of the National Bureau of Statistics, believes that the three major indices are all in the expansion range, indicating that the production and operation activities of enterprises have accelerated, and the level of China's economic prosperity has rebounded. Multiple indicators of synchronous improvement in production demand indicate that in March, as enterprises accelerate their resumption of work and production after the Spring Festival, market activity has increased, and production demand has also improved synchronously. The manufacturing production index and new order index in March were 52.2% and 53.0%, respectively, an increase of 2.4 and 4.0 percentage points from the previous month, indicating a significant rebound in the level of production and demand prosperity. Driven by the rebound in production and market demand, the procurement activities of manufacturing enterprises have significantly increased, with a procurement volume index of 52.7%, an increase of 4.7 percentage points from the previous month. Looking at different industries, the three key industries are expanding simultaneously. The purchasing manager indices for high-tech manufacturing, consumer goods, and equipment manufacturing were 53.9%, 51.8%, and 51.6%, respectively, an increase of 3.1, 1.8, and 2.1 percentage points from the previous month, all higher than the overall level of the manufacturing industry. The production index and new order index for high-tech manufacturing were both above 55.0%, indicating an accelerated release of production and demand in related industries. In March, with the continuous efforts of stabilizing the economy, expanding domestic demand, and stabilizing foreign trade policies
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