【数据发布】2025年8月中国采购经理指数运行情况

Group 1: Manufacturing PMI Overview - In August, the Manufacturing Purchasing Managers' Index (PMI) was 49.4%, an increase of 0.1 percentage points from the previous month, indicating a slight improvement in manufacturing activity [1] - Large enterprises had a PMI of 50.8%, up 0.5 percentage points, while medium and small enterprises had PMIs of 48.9% and 46.6%, respectively, indicating a decline for medium and small enterprises [3] - The production index was 50.8%, up 0.3 percentage points, suggesting accelerated manufacturing production expansion [4] Group 2: Manufacturing Sub-indices - The new orders index was 49.5%, indicating a slight improvement in market demand, although still below the critical point [4] - The raw materials inventory index was 48.0%, showing a narrowing decline in inventory levels [4] - The employment index was 47.9%, indicating a slight decrease in employment levels within manufacturing [4] - The supplier delivery time index was 50.5%, reflecting faster delivery times from suppliers [5] Group 3: Non-Manufacturing PMI Overview - In August, the Non-Manufacturing Business Activity Index was 50.3%, an increase of 0.2 percentage points, indicating continued expansion in the non-manufacturing sector [9] - The construction industry index was 49.1%, down 1.5 percentage points, while the services industry index was 50.5%, up 0.5 percentage points [12] Group 4: Non-Manufacturing Sub-indices - The new orders index for non-manufacturing was 46.6%, showing improvement but still below the critical point [14] - The input price index was 50.3%, indicating stable input prices for non-manufacturing activities [14] - The sales price index was 48.6%, suggesting a narrowing decline in sales prices [14] - The employment index for non-manufacturing was 45.6%, indicating weak employment conditions [14] Group 5: Business Activity Expectations - The business activity expectation index was 56.2%, indicating optimism among non-manufacturing enterprises regarding market prospects [15] Group 6: Comprehensive PMI Overview - The comprehensive PMI output index was 50.5%, an increase of 0.3 percentage points, indicating an overall acceleration in production and business activities [21]