2025年10月中国采购经理指数为49.0%

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 [1] - The PMI for large, medium, and small enterprises was 49.9%, 48.7%, and 47.1%, respectively, all below the critical point, with declines of 1.1, 0.1, and 1.1 percentage points [1] - The production index was 49.7%, down 2.2 percentage points, suggesting a slowdown in manufacturing production [2] New Orders and Employment - The new orders index was 48.8%, a decrease of 0.9 percentage points, indicating a decline in market demand for manufacturing [2] - The raw materials inventory index was 47.3%, down 1.2 percentage points, showing a continued reduction in major raw material inventories [2] - The employment index was 48.3%, a slight decrease of 0.2 percentage points, reflecting a minor decline in employment levels within manufacturing [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 [3] - The construction industry index was 49.1%, down 0.2 percentage points, while the services industry index was 50.2%, up 0.1 percentage points [3] Non-Manufacturing Demand and Prices - The new orders index for non-manufacturing was 46.0%, unchanged from the previous month, indicating weak market demand [3] - The input prices index was 49.4%, an increase of 0.4 percentage points, suggesting a narrowing decline in input prices for non-manufacturing [4] - The sales prices index was 47.8%, up 0.5 percentage points, but still below the critical point, indicating lower sales prices compared to the previous month [4] Employment and Expectations in Non-Manufacturing - The employment index for non-manufacturing was 45.2%, an increase of 0.2 percentage points, indicating slight improvement in employment conditions [4] - The business activity expectation index was 56.1%, up 0.4 percentage points, reflecting optimism among non-manufacturing enterprises regarding market prospects [4] Composite PMI Overview - The Composite PMI Output Index was 50.0%, a decrease of 0.6 percentage points, indicating overall stability in production and business activities [5]