2025年8月中国制造业采购经理指数（PMI）为49.4%

Core Viewpoint - The manufacturing Purchasing Managers' Index (PMI) for August is 49.4%, indicating a slight improvement in manufacturing sentiment compared to the previous month [1] Group 1: PMI Overview - The PMI for large enterprises is 50.8%, up 0.5 percentage points from last month, indicating expansion above the critical point [1] - The PMI for medium enterprises is 48.9%, down 0.6 percentage points from last month, remaining below the critical point [1] - The PMI for small enterprises is 46.6%, up 0.2 percentage points from last month, still below the critical point [1] Group 2: Sub-Index Analysis - The production index is at 50.8%, up 0.3 percentage points from last month, indicating accelerated production expansion in the manufacturing sector [1] - The new orders index is at 49.5%, up 0.1 percentage points from last month, suggesting a slight improvement in market demand [1] - The raw materials inventory index is at 48.0%, up 0.3 percentage points from last month, indicating a narrowing decline in major raw material inventory levels [1] - The employment index is at 47.9%, down 0.1 percentage points from last month, reflecting a slight decline in employment sentiment within manufacturing [1] - The supplier delivery time index is at 50.5%, up 0.2 percentage points from last month, indicating a continued acceleration in supplier delivery times [1]