30 Sept 2017
PMI Monthly (September 2017)
PMI rises to 52.4 in September 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.
China’s manufacturing PMI rose by 0.7 pts from the previous month to 52.4 in September, the highest level since May 2012, indicating the rapid expansion of the manufacturing sector in China.
8 of the 13 sub-indices were higher than their respective levels in the previous month, while 4 sub-indices were lower than their respective levels in the previous month. The output index rose from 54.1 in August to 54.7 in September, showing an acceleration in output growth. The new orders index gained 1.7 pts, while the new export orders index went up by 0.9 pts in September, indicating that both domestic demand and export demand have improved. 1 Particularly noteworthy is that the input prices and the ex-factory prices indices reached 68.4 and 59.4 respectively in September, well above the critical 50-mark, 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 53.8 in September, up from 52.8 in August. The PMI of ‘medium enterprises’ rose slightly to 51.1 in September from 51.0 in August, while the PMI of ‘small enterprises’ improved to 49.4 in September from 49.1 in August. The output index was 54.7 in September, up from 54.1 in August.
The output index of ‘large enterprises’ rose to 56.6 in September from 55.5 in August; the output index of ‘medium enterprises’ was 53.6 in September, up from 52.9 in August; the output index of ‘small enterprises’ fell to 49.1 in September from 51.2 in August.
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