2025年12月中国制造业采购经理指数（PMI）为50.1%

Group 1: Manufacturing PMI Overview - In December, the Manufacturing Purchasing Managers' Index (PMI) was 50.1%, an increase of 0.9 percentage points from the previous month, indicating expansion [1] - Large enterprises had a PMI of 50.8%, up 1.5 percentage points, while medium-sized enterprises had a PMI of 49.8%, up 0.9 percentage points, and small enterprises had a PMI of 48.6%, down 0.5 percentage points [1] - The production index was 51.7%, an increase of 1.7 percentage points, indicating accelerated production activities in the manufacturing sector [2] - The new orders index was 50.8%, up 1.6 percentage points, suggesting improved market demand in manufacturing [3] - The raw materials inventory index was 47.8%, up 0.5 percentage points, indicating a narrowing decline in major raw material inventories [4] - The employment index was 48.2%, down 0.2 percentage points, reflecting a slight decrease in employment conditions in manufacturing [5] - The supplier delivery time index was 50.2%, up 0.1 percentage points, indicating that supplier delivery times for raw materials continued to accelerate [5] Group 2: Non-Manufacturing PMI Overview - In December, the Non-Manufacturing Business Activity Index was 50.2%, an increase of 0.7 percentage points, returning to the expansion zone [6] - The construction industry business activity index was 52.8%, up 3.2 percentage points, while the service industry business activity index was 49.7%, up 0.2 percentage points [6] - The new orders index was 47.3%, up 1.6 percentage points, indicating a recovery in market demand for non-manufacturing [6] - The input prices index was 50.2%, down 0.2 percentage points, indicating a general increase in input prices for non-manufacturing activities [6] - The sales prices index was 48.0%, down 1.1 percentage points, indicating a decline in overall sales prices in non-manufacturing [7] - The employment index was 46.1%, up 0.8 percentage points, indicating a slight recovery in employment conditions in non-manufacturing [7] - The business activity expectation index was 56.5%, up 0.3 percentage points, reflecting increased confidence in market development among non-manufacturing enterprises [7] Group 3: Composite PMI Overview - In December, the Composite PMI Output Index was 50.7%, an increase of 1.0 percentage points, indicating overall expansion in production and business activities compared to the previous month [9]