制造业运行有所波动！统计局最新发布，重要经济数据出炉

Core Viewpoint - The manufacturing sector in China is experiencing fluctuations, with the manufacturing PMI at 49.3%, indicating a decline in economic activity, while the prices of raw materials and finished goods are showing signs of recovery, with the producer price index rising above the critical point for the first time in 20 months [1][3][4]. Manufacturing Sector Analysis - The manufacturing PMI decreased by 0.8 percentage points from the previous month, reflecting seasonal slowdowns and insufficient market demand [3]. - Among 13 sub-indices, inventory, import, purchase price, and producer price indices increased, while production, new orders, and other indices saw declines [3]. - The purchase price index rose to 56.1%, marking a 3 percentage point increase, while the producer price index reached 50.6%, up 1.7 percentage points, indicating a return to expansion after 19 months below 50% [4]. New Growth Momentum - High-tech manufacturing PMI remained stable at 52.0%, indicating ongoing positive trends, while equipment manufacturing PMI was at 50.1%, also in the expansion zone [6]. - The production and business activity expectation index was at 52.6%, suggesting optimistic expectations among enterprises [7]. Financial Sector Performance - The non-manufacturing business activity index was at 49.4%, down 0.8 percentage points, primarily due to a slowdown in the construction sector [10]. - The financial sector showed significant improvement, with the business activity index exceeding 65%, indicating strong support for the real economy [11].