Chinese manufacturers are continuing to increase their production to meet rising demand, according to the manufacturing Purchasing Managers’ Index (PMI), which was at 50.1% in September and rising to the expansion range.
In terms of enterprise scale, the PMI of large enterprises was at 51.1%, an increase of 0.6 percentage points from the previous month, and was higher than the threshold; the PMI of small and medium-sized enterprises were 49.7% and 48.3%, an increase of 0.8 and 0.7 percentage points from the previous month, still below the critical point.
From the perspective of sub-indices, among the five sub-indices that make up the manufacturing PMI, the production index is above the critical point, and the new order index, raw material inventory index, employment index and supplier delivery time index are all below the critical point.
The production index was 51.5%, up 1.7 percentage points from the previous month, rising above the threshold, indicating that manufacturing production has expanded.
The new orders index was 49.8%, up 0.6 percentage points from the previous month, indicating that the market demand for manufacturing continued to improve.
The inventory index of raw materials was 47.6%, however, represented a decrease of 0.4 percentage points, indicating that the inventory of major raw materials in the manufacturing industry decreased from the previous month.
The employment index was 49%, an increase of 0.1 percentage points from the previous month, indicating that the employment prosperity of manufacturing enterprises has slightly recovered.
The supplier delivery time index was 48.7%, a decrease of 0.8 percentage points on the previous month, indicating that the delivery time of manufacturing raw material suppliers was longer than the previous month.
In the latest import data from the US Office of Textiles and Apparel, China remains the largest apparel supplier to the US, booking shipment growth of 22.7% to 1,271 MM2 for July.