2025年6月中国采购经理指数运行情况

Group 1: Manufacturing PMI Overview - In June, the Manufacturing Purchasing Managers' Index (PMI) was 49.7%, an increase of 0.2 percentage points from the previous month, indicating continued improvement in manufacturing sentiment [1] - Large enterprises had a PMI of 51.2%, up 0.5 percentage points, while medium-sized enterprises had a PMI of 48.6%, up 1.1 percentage points, and small enterprises had a PMI of 47.3%, down 2.0 percentage points [4] - The production index was 51.0%, indicating accelerated production activities, and the new orders index was 50.2%, suggesting improved market demand [4][6] Group 2: Employment and Supplier Conditions - The employment index was 47.9%, a slight decrease of 0.2 percentage points, indicating a minor decline in employment sentiment within the manufacturing sector [5] - The supplier delivery time index was 50.2%, an increase of 0.2 percentage points, suggesting that suppliers' delivery times have improved compared to the previous month [6] Group 3: Non-Manufacturing PMI Overview - In June, the Non-Manufacturing Business Activity Index was 50.5%, an increase of 0.2 percentage points, indicating continued expansion in the non-manufacturing sector [10] - The construction industry had a business activity index of 52.8%, up 1.8 percentage points, while the services industry had a business activity index of 50.1%, down 0.1 percentage points [12] Group 4: Non-Manufacturing Demand and Pricing - The new orders index for non-manufacturing was 46.6%, an increase of 0.5 percentage points, indicating a slight recovery in market demand [16] - The input prices index was 49.9%, slightly below the critical point, indicating stable input prices for non-manufacturing activities [16] Group 5: Comprehensive PMI Output Index - The Comprehensive PMI Output Index was 50.7%, an increase of 0.3 percentage points, indicating an overall acceleration in production and business activities across sectors [23]