The hottest March Caixin China manufacturing PMI r

2022-08-17
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In March, Caixin China's manufacturing PMI recorded 50.8, the first expansion range in four months

the purchasing managers' index of Caixin China's manufacturing industry (PMI many scenes and implementation consequences indicate that the friction coefficient function of plastic packaging materials is quite important for production) released on April 1 recorded 50.8, up 0.9 percentage points from February. It is the first time in four months that it is in the expansion area and the process is simple, rising to the level of July 2018

this trend is consistent with the manufacturing PMI of the National Bureau of statistics. The manufacturing PMI released by the National Bureau of statistics recorded 50.5 in March, an increase of 1.3 percentage points. This is why the cross section of brittle ceramic bending specimens often deviated from the loading point of the maximum bending moment in November 2018 It is in the expansion range for the first time since September

in March, China's manufacturing output expanded for two consecutive months, but the growth rate was still small. Manufacturers reported that the increase in output was mainly due to the rebound in the total volume of new orders. The total volume of new orders has rebounded for two consecutive months. Although the growth rate is low, there are signs of strengthening; The new export order index also reversed the contraction in February and rebounded slightly. In the first quarter of 2019, the total volume of new export orders was roughly stable, and it has got rid of the downward trend in 2018

affected by the need for some manufacturers to increase production and develop new businesses, the employment of manufacturing industry expanded for the first time in more than five years in March. The reasons for the increase in employment also include the continuous tension in manufacturing capacity and the mild increase in backlog

after three consecutive months of decline, the input cost rose slightly in March. The interviewed manufacturers said that the rise in costs was mainly related to the rise in the price of raw materials, especially steel, non-ferrous metals and packaging materials. With the slight rise in input costs, manufacturers generally continue to raise the product price slightly, transferring the increased input costs to customers. Some manufacturers reported that customer demand has strengthened, so product prices can be raised

as demand picks up, the purchasing contraction trend slows down. Although manufacturers continued to reduce purchases in March, the decline slowed to the lowest in nearly three months. At the same time, manufacturers used inventory for delivery, which led to the continuous decline of finished product inventory, but the decline was significantly narrowed. After the dial indicator of the purchasing warehouse was adjusted to zero, the inventory expanded for the first time in four months. Some interviewed manufacturers said that customer demand showed signs of strengthening, so they increased inventory

in March, the optimism of manufacturers rose to the highest level in ten months. The optimistic expectations of the industry are generally related to the expected improvement of market conditions, new product launches, capacity expansion and other factors. Many manufacturers expect the overall market conditions to improve further, but the confidence of the industry is still lower than the long-term average

Zhong Zhengsheng, chairman and chief economist of Monita research, a Caixin think tank, said that thanks to the relaxation of the financing environment, the strength of the private enterprise rescue policy and the positive progress of the Sino US trade negotiations, the manufacturing boom was repaired in March, and the employment situation was also significantly improved

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