2025年10月份制造业采购经理指数（PMI）49.0%

Core Insights - The manufacturing Purchasing Managers' Index (PMI) for October is 49.0%, a decrease of 0.8 percentage points from the previous month, indicating a decline in manufacturing activity [1] Group 1: PMI Overview - The PMI for large, medium, and small enterprises are 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 compared to last month [1] Group 2: Sub-Indices Analysis - The production index is at 49.7%, down 2.2 percentage points, indicating a slowdown in manufacturing production [3] - The new orders index is at 48.8%, a decrease of 0.9 percentage points, suggesting a decline in market demand for manufacturing [4] - The raw materials inventory index is at 47.3%, down 1.2 percentage points, indicating a continued reduction in the inventory of major raw materials [5] - The employment index is at 48.3%, a slight decrease of 0.2 percentage points, reflecting a minor decline in employment levels within manufacturing [6] - The supplier delivery time index is at 50.0%, down 0.8 percentage points, remaining at the critical point, indicating that supplier delivery times are stable compared to the previous month [7]