【数据发布】2025年12月中国采购经理指数运行情况

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; medium enterprises at 49.8%, up 0.9 percentage points; and small enterprises at 48.6%, down 0.5 percentage points, all below the critical point [3] - The production index was 51.7%, up 1.7 percentage points, indicating accelerated production activities in manufacturing [4] - The new orders index was 50.8%, up 1.6 percentage points, suggesting improved market demand in manufacturing [5] - The raw materials inventory index was 47.8%, up 0.5 percentage points, indicating a narrowing decline in major raw material inventory levels [5] - 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 continued acceleration in supplier delivery times [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 [9] - The construction industry business activity index was 52.8%, up 3.2 percentage points; the service industry index was 49.7%, up 0.2 percentage points [10] - The new orders index for non-manufacturing was 47.3%, up 1.6 percentage points, indicating a recovery in market demand [13] - The input price index was 50.2%, down 0.2 percentage points, indicating a rise in overall input prices for non-manufacturing enterprises [13] - The sales price index was 48.0%, down 1.1 percentage points, indicating a decline in overall sales prices in non-manufacturing [13] - The employment index was 46.1%, up 0.8 percentage points, indicating a slight recovery in employment conditions in non-manufacturing [13] - The business activity expectation index was 56.5%, up 0.3 percentage points, reflecting increased confidence among non-manufacturing enterprises [14] Group 3: Comprehensive PMI Overview - In December, the Comprehensive 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 [17]