Trade Resources Industry Trends In November, Non-Manufacturing Purchasing Manager Index Was 56.0 Percent

In November, Non-Manufacturing Purchasing Manager Index Was 56.0 Percent

Tags: Service

China's Non-manufacturing PMI Decreased in November National Bureau of Statistics of China 

Department of Service Statistics of NBS

China Federation of Logistics and Purchasing (CFLP)

In November, non-manufacturing purchasing manager index was 56.0 percent, a decrease of 0.3 percentage points over the previous month.

China's Non-Manufacturing Pmi Decreased in November

In view of different industries, non-manufacturing purchasing manager index of service industry was 54.1 percent, down by 0.7 percentage points than that in the previous month. Of which, the indices of Internet, software and information technology services, loading, unloading and portage, storage, post, water transport, telecommunications, broadcasting, television and satellite transmission services stayed above the threshold, and the total enterprise business increased; the indices of air transport, restaurants, transport via road, ecological protection, environmental control and management of public facilities, resident services and repair were below the threshold, and the total enterprise business decreased. Non-manufacturing purchasing manager index of construction industry achieved 63.5 percent, up by 1.5 percentage points over the previous month, and continue to position in the high level of the range.

New orders index dropped back. The new orders index was 51.0 percent, a decrease of 0.6 percentage points over the previous month, continued to stay above the threshold. In view of different industries, the new orders index of service industry was 50.3 percent, 0.8 percentage points lower over the previous month. Of which, the new orders indices of Internet, software and information technology services, water transport, post, loading, unloading and portage, storage, telecommunications, broadcasting, television and satellite transmission services were above the threshold, and the market demands increased, while the new orders indices of ecological protection, environmental control and management of public facilities, air transport, restaurants, transport via road, resident services and repair were below the threshold, and the market demands decreased. The new orders index of construction industry was 53.8 percent, slightly increased 0.1 percentage points over the previous month, indicating the market demands continued to increase.

Intermediate input price index continued to drop back, which reached 54.8 percent, down by 1.3 percentage points over last month, and had declined for 4 consecutive months, indicating a weakened upward momentum of production and operation costs. In view of different industries, the intermediate input price index of service industry was 54.5 percent, down by 0.9 percentage points over the previous month, and among the intermediate input price indices of all the sub industries, only the intermediate input price index of air transport stayed below the threshold. The intermediate input price index of construction industry was 56.3 percent, a decrease of 2.6 percentage points over the previous month, and stayed above the threshold for 5 consecutive months, indicating the production and operation costs of construction industry continued to increase with a narrowed amount.

The subscription price index dropped below the threshold. This index was 49.5 percent, 1.9 percentage points lower over last month, and stayed below the threshold, showing that the non-manufacturing subscription price decreased. In view of different industries, the subscription price index of service industry was 48.8 percent, a decrease of 2.4 percentage point over the previous month. Of which, the subscription price indices of accommodation, resident services and repair, real estate, retail trade, loading, unloading and portage, storage, post were above the threshold, that of air transport, wholesale, renting and leasing activities and business services, water transport, ecological protection, environmental control and management of public facilities were below the threshold. The subscription price index of construction industry was 52.2 percent, up by 0.2 percentage points over last month.

Business activities expectation index continued to stay in a high place. This index reached 61.3 percent, up by 0.8 percentage points over last month, placed highly in the range, which indicating that the non-manufacturing enterprises maintained optimistic about the operating expectation in next three months, and had full confidence in the development of the industry. In view of different industries, the business activities expectation indices of accommodation, ecological protection, environmental control and management of public facilities stayed below the threshold, while that of other industries were above the threshold.

China's Non-manufacturing PMI (Seasonally adjusted)  Unit: %

 

  Non-manufacturing PMI New Orders Index Intermediate Input Price Index Subscription Price Index Business Activities Expectation Index
2012-November 55.6 53.2 52.5 48.4 64.6
December 56.1 54.3 53.8 50 64.6
2013-January 56.2 53.7 58.2 50.9 61.4
February 54.5 51.8 56.2 51.1 62.7
March 55.6 52 55.3 50 62.4
April 54.5 50.9 51.1 47.6 62.5
May 54.3 50.1 54.4 50.7 62.9
June 53.9 50.3 55 50.6 61.8
July 54.1 50.3 58.2 52.4 63.9
August 53.9 50.9 57.1 51.2 62.9
September 55.4 53.4 56.7 50.6 60.1
October 56.3 51.6 56.1 51.4 60.5
November 56 51 54.8 49.5 61.3

Annotations:

1. Explanatory Notes

China non-manufacturing purchasing manager index system constituted by 10 sub-indices, they are business activity index, new orders index, new export orders index in hand orders index, stock index, intermediate input price index, subscription price index, employment index, supplier delivery time index, and business activities expectation index. Due to the lack of synthesis of non-manufacturing integrated PMI index, the international society often used business activity index to reflect the overall changes in non-manufacturing economic development, A PMI reading above 50 percent indicates expansion from the previous month, while below indicates contraction.

2. Statistical Coverage

The survey involves 27 non-manufacturing industry categories in the "Industrial Classification for National Economic Activities" (GB/T4754-2011), and was conducted in 1200 sampling enterprises of the non-manufacturing sector countrywide.

3. Survey Methods

Non-manufacturing purchasing managers' survey was conducted in PPS ( Probability Proportional to Size) sampling method, using the non-manufacturing sectors as the selecting layers, distribution of sample size was according to their value-added accounted for the proportion of total non-manufacturing value-added, and samples within layers and the main business revenue of the enterprises were selected by the PPS.

The survey was organized and conducted by staff members of survey offices, monthly through Online Reporting System of NBS by sending survey questionnaires to the purchasing managers of the selected enterprises.

4. Calculation Methods

Non-manufacturing purchasing managers survey involves 10 questions on production, new orders (business required), export, existing orders, finished goods inventory, intermediate input price, subscription price, employees, suppliers delivery time, and business activities expectation. Diffusion index was calculated on each question, i.e. percentage of positive answers in number of enterprises plus half of the percentage in the same answers.

5. Seasonal Adjustment Note

The purchasing manager's survey is a monthly survey, great fluctuations of data which affected by seasonal factors. At present, time series of China's non-manufacturing PMI have met the technical requirements of the seasonally adjustment, and the sub-indices of non-manufacturing PMI data on seasonally adjusted will be released since March 2012.

Source: http://www.stats.gov.cn/english/pressrelease/t20131203_402931673.htm
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China's Non-Manufacturing Pmi Decreased in November
Topics: Service