【权威解读】国家统计局服务业调查中心首席统计师霍丽慧解读2026年1月中国采购经理指数

Group 1: Manufacturing PMI Insights - The manufacturing purchasing managers' index (PMI) decreased to 49.3% in January, indicating a decline in economic sentiment compared to the previous month [2] - The production index remains above the critical point at 50.6%, suggesting continued expansion in manufacturing production, while the new orders index fell to 49.2%, indicating a drop in market demand [2][3] - Large enterprises maintain a PMI of 50.3%, indicating ongoing expansion, while small and medium enterprises show lower PMIs of 48.7% and 47.4%, respectively, reflecting a decline in sentiment [3] Group 2: Non-Manufacturing PMI Insights - The non-manufacturing business activity index fell to 49.4%, signaling a decrease in overall non-manufacturing sentiment [4] - The service sector's business activity index is at 49.5%, with significant activity in financial services, while the real estate sector's index dropped below 40.0%, indicating weak sentiment [4] - The construction sector's business activity index decreased to 48.8%, influenced by adverse weather and the upcoming holiday, with a cautious outlook reflected in the business activity expectations index dropping below the critical point [4] Group 3: Comprehensive PMI Insights - The comprehensive PMI output index is at 49.8%, indicating a slowdown in overall production and business activities compared to the previous month [5] - The manufacturing production index and non-manufacturing business activity index are at 50.6% and 49.4%, respectively, contributing to the comprehensive PMI output index [5]