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PMI Monthly (August 2017)

PMI rises to 51.7 in August

Output, New Orders, New Export Orders, Purchases of Inputs, Imports, Expanding.

Stocks of Finished Goods, Stocks of Major Inputs, Backlogs of Orders, Contracting.

Input Prices, Ex-factory Prices, Rising Suppliers’ Delivery, Slower.

Business Expectations, Optimistic.

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China’s manufacturing PMI rebounded by 0.3 pts from the previous month to 51.7 in August, close to the recent peak of 51.8 in March this year, indicating that the manufacturing sector in China has expanded at a relatively fast pace recently.

7 of the 13 sub-indices were higher than their respective levels in the previous month. The output index rose from 53.5 in July to 54.1 in August, showing an acceleration in output growth. The new orders index gained 0.3 pts in August. In contrast, the new export orders index fell by 0.5 pts in August. The figures indicate that the growth in new export orders decelerated and the growth in new domestic orders improved in the month. Particularly noteworthy is that the input prices and the ex-factory prices indices jumped by 7.4 pts and 4.7 pts respectively in August, showing a sharp rise in both the prices of production inputs and the ex-factory prices of finished products in the month.

By size of enterprises, the PMI of ‘large enterprises’ came in at 52.8 in August, down slightly from 52.9 in July. The PMI of ‘medium enterprises’ went up to 51.0 in August from 49.6 in July, while the PMI of ‘small enterprises’ rose to 49.1 in August from 48.9 in July.

The output index was 54.1 in August, up from 53.5 in July. The output index of ‘large enterprises’ fell to 55.5 in August from 56.0 in July; the output index of ‘medium enterprises’ was 52.9 in August, up from 51.2 in July; the output index of ‘small enterprises’ rose to 51.2 in August from 48.3 in July.

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Content provided by Fung Business Intelligence
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