2025年10月中国采购经理指数运行情况

Group 1: Manufacturing PMI Overview - In October, the Manufacturing Purchasing Managers' Index (PMI) was 49.0%, a decrease of 0.8 percentage points from the previous month, indicating a decline in manufacturing activity [2][30] - The PMI for large, medium, and small enterprises was 49.9%, 48.7%, and 47.1% respectively, all below the critical point [4] - The production index was 49.7%, down 2.2 percentage points, suggesting a slowdown in manufacturing production [5] - The new orders index was 48.8%, a decrease of 0.9 percentage points, indicating a drop in market demand [6] - The raw materials inventory index was 47.3%, down 1.2 percentage points, showing a continued reduction in inventory levels [7] - The employment index was 48.3%, a slight decrease of 0.2 percentage points, reflecting a minor decline in employment levels in manufacturing [8] Group 2: Non-Manufacturing PMI Overview - In October, the Non-Manufacturing Business Activity Index was 50.1%, an increase of 0.1 percentage points, indicating expansion in the non-manufacturing sector [18] - The construction industry business activity index was 49.1%, down 0.2 percentage points, while the service industry index was 50.2%, up 0.1 percentage points [20] - The new orders index for non-manufacturing was 46.0%, unchanged from the previous month, indicating weak market demand [22] - The input prices index was 49.4%, up 0.4 percentage points, suggesting a narrowing decline in input prices for non-manufacturing enterprises [22] - The sales prices index was 47.8%, an increase of 0.5 percentage points, indicating that sales prices remained below the previous month [22] - The employment index for non-manufacturing was 45.2%, up 0.2 percentage points, indicating slight improvement in employment conditions [22] Group 3: Comprehensive PMI Overview - The Comprehensive PMI Output Index was 50.0%, a decrease of 0.6 percentage points, indicating overall stability in production and business activities across sectors [30]