2024年9月PMI点评：制造业景气度略改善

Economic Indicators - The manufacturing PMI for September is 49.8%, an increase of 0.7 percentage points from the previous month[1] - New orders index and import index are at 49.9% and 46.1%, respectively, with changes of +1.0 percentage points and -0.7 percentage points from last month[1] - The production index rose to 51.2%, up by 1.4 percentage points from the previous month[1] Price Trends - The factory price index and main raw material purchase price index are at 44.0% and 45.1%, increasing by 2.0 percentage points and 1.9 percentage points, respectively, but still at low levels[1] Economic Momentum - The economic momentum index increased from 0.4% in August to 1.5% in September, remaining at the same level as July[1] - The finished goods inventory index is at 48.4%, down by 0.1 percentage points from last month, indicating a generally high level of inventory[1] Non-Manufacturing Sector - The non-manufacturing PMI is at 50.0%, slightly down from 50.3% in the previous month[3] - The service sector PMI dropped to 49.9%, marking the first fall below the critical point this year[3] Construction Sector - The construction PMI improved slightly to 50.7%, an increase of 0.1 percentage points from the previous month[3]