-
Important news
-
News
-
Shenzhen
-
China
-
World
-
Opinion
-
Sports
-
Kaleidoscope
-
Photos
-
Business
-
Markets
-
Business/Markets
-
World Economy
-
Speak Shenzhen
-
Health
-
Leisure
-
Culture
-
Travel
-
Entertainment
-
Digital Paper
-
In-Depth
-
Weekend
-
Newsmaker
-
Lifestyle
-
Diversions
-
Movies
-
Hotels and Food
-
Special Report
-
Yes Teens!
-
News Picks
-
Tech and Science
-
Glamour
-
Campus
-
Budding Writers
-
Fun
-
Qianhai
-
Advertorial
-
CHTF Special
-
Futian Today
在线翻译:
szdaily -> Business -> 
Manufacturing PMI further contracts
    2021-11-01  08:53    Shenzhen Daily

THE country’s factory activities shrank for a second month, while service secured a slow growth.

The official manufacturing Purchasing Managers’ Index (PMI) slipped to 49.2 in October, the second contraction since February 2020 after 49.6 in September, data from the National Bureau of Statistics (NBS) showed Saturday.

“The factory gate price index reached a multi-year high,” said Zhao Qinghe, a senior statistician with the NBS, in an accompanying statement. Zhao said the price of the raw materials has accelerated growth as the price index for sectors, including petroleum, coal and other fuel processing, soared above 73 percent.

The purchase price index and factory gate price index of major raw materials rose a monthly 8.6 and 4.7 percentage points respectively, hitting 72.1 percent and 61.1 percent, NBS data showed.

The production index and the new order index were 48.4 percent and 48.8 percent, respectively, down 1.1 and 0.5 percentage points from September, indicating a slowdown of manufacturing activities and market demand.

The raw material inventory index edged down 1.2 percentage points from September, revealing that the manufacturing industry’s inventory of major raw materials continued to decrease. Data also showed that the delivery time of manufacturing raw material from suppliers continued to extend as the delivery time index further slipped to 46.7 percent.

China’s services recorded a slight expansion. The official non-manufacturing PMI stood at 52.4 in October, down 0.8 percentage points from 53.2 in September, as some sporadic COVID-19 outbreaks interrupted the service sector’s ability to bounce back.

A reading above 50 indicates expansion in activities, while a reading below that mark reflects contraction.

China has moved to bring down prices for raw materials by boosting supply.

In October, the sub-index for business activities in the services sector stood at 51.6, down 0.8 percentage points from that in September.

Sectors such as accommodation, catering and entertainment, recorded marked increases in business volume, driven by the week-long National Day holiday in early October. Their sub-indexes for business activities all stood above 55, according to the NBS.

(SD-Xinhua)

深圳报业集团版权所有, 未经授权禁止复制; Copyright 2010-2020, All Rights Reserved.
Shenzhen Daily E-mail:szdaily@126.com