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The manufacturing PMI rebounded slightly to 49.2% in January, and the prosperity level improved.

Manufacturing purchasing managers index rebounds

In January, the manufacturing PMI rebounded slightly to 49.2%, indicating an improvement in the prosperity level.

The expansion of the production index accelerated. The production index was 51.3%, up 1.1 percentage points from the previous month and reaching the highest level in nearly four months. From an industry perspective, the production index of food and alcoholic beverages, refined tea, papermaking and printing, cultural, educational, sports and entertainment supplies, and medicine is above 53.0%, and the production of related industries is expanding rapidly; chemical raw materials and chemical products, chemical fibers, rubber and plastic products and The production index of non-metallic mineral products and other industries is in the contraction range, and corporate production activities have slowed down.

The new orders index rebounded. The new orders index was 49.0%, an increase of 0.3 percentage points from the previous month. The new export orders index, which reflects external demand, increased by 1.4 percentage points from the previous month. The prosperity of domestic and external market demand has improved. From the perspective of key industries, the new order index of equipment manufacturing, high-tech manufacturing and consumer goods industries was 50.3%, 50.2% and 50.3% respectively, all above the critical point; the new order index of high energy-consuming industries was 47.0%, continuing to be at the critical point point below, market demand is still insufficient.

The PMI for large companies rose to expansion territory. The PMI of large enterprises was 50.4%, an increase of 0.4 percentage points from the previous month. The prosperity level has rebounded. The survey results show that more than 70% of large enterprises have a capacity utilization rate of 80.0% or more, indicating that enterprises are releasing production capacity quickly; the PMI of medium-sized enterprises is 48.9%. , an increase of 0.2 percentage points from the previous month, and the prosperity level has improved; the PMI of small enterprises was 47.2%, a decrease of 0.1 percentage points from the previous month, and the prosperity level was low.

Business expectations are basically stable. Affected by the approaching Spring Festival holiday and the traditional production off-season in some industries, the production and operation activity expectation index is 54.0%, which continues to be in the expansion range. Enterprise confidence in future market development is generally stable. From an industry perspective, the expected index of production and operation activities in industries such as medicine, special equipment, automobiles, railways, ships, aerospace equipment, etc. is in the high-prosperity range above 56.0%, and companies are more optimistic about recent market development expectations.

The expansion of the non-manufacturing business activity index accelerated

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