Economic Indicators - November manufacturing PMI increased to 50.3%, up from 50.1% in October[1] - Non-manufacturing PMI slightly decreased to 50.0%, down from 50.2% in October[1] Supply and Demand - Production index rose to 52.4%, an increase of 0.4 percentage points month-on-month[3] - New orders index reached 50.8%, the first time above the threshold since April, with a month-on-month increase of 0.8 percentage points[3] Price Trends - Main raw material purchase price index fell to 49.8%, down 3.6 percentage points, indicating contraction[4] - Factory price index decreased to 47.7%, down 2.2 percentage points, also in contraction territory[4] Sector Performance - High-tech manufacturing PMI rose to 51.2%, indicating strong performance in new economic drivers[4] - Equipment manufacturing PMI remained stable at 51.3%, maintaining above the threshold for four consecutive months[4] Risks and Outlook - Risks include potential unexpected declines in overseas demand and slower-than-expected implementation of growth policies[5] - December meetings are anticipated to provide additional insights on monetary and fiscal policies[2]
国内观察：2024年11月PMI——供需继续改善，价格指数回落
Donghai Securities·2024-12-01 05:05