【数据发布】2026年2月中国采购经理指数运行情况

Group 1: Manufacturing PMI Overview - In February, the Manufacturing Purchasing Managers' Index (PMI) was 49.0%, a decrease of 0.3 percentage points from the previous month, indicating a decline in manufacturing activity [1][4] - Large enterprises reported a PMI of 51.5%, an increase of 1.2 percentage points, while medium and small enterprises had PMIs of 47.5% and 44.8%, decreasing by 1.2 and 2.6 percentage points respectively, both below the critical point [3] - All five sub-indices contributing to the manufacturing PMI, including production, new orders, raw material inventory, employment, and supplier delivery time, were below the critical point [3] Group 2: Manufacturing Sub-Indices - The production index was at 49.6%, down 1.0 percentage points, indicating a slowdown in manufacturing production activities [4] - The new orders index was 48.6%, a decrease of 0.6 percentage points, reflecting a decline in market demand for manufacturing [5] - The raw material inventory index rose slightly to 47.5%, an increase of 0.1 percentage points, suggesting a slight narrowing in the decline of raw material inventory levels [5] - The employment index was at 48.0%, down 0.1 percentage points, indicating a slight decrease in employment levels in manufacturing [5] - The supplier delivery time index was 49.1%, a decrease of 1.0 percentage points, indicating slower delivery times from suppliers compared to the previous month [5] Group 3: Non-Manufacturing PMI Overview - In February, the Non-Manufacturing Business Activity Index was 49.5%, an increase of 0.1 percentage points, indicating an improvement in non-manufacturing activity [8] - The construction industry business activity index was 48.2%, down 0.6 percentage points, while the service industry index was 49.7%, up 0.2 percentage points [9] Group 4: Non-Manufacturing Sub-Indices - The new orders index for non-manufacturing was 45.2%, a decrease of 0.9 percentage points, indicating a decline in market demand [12] - The input prices index rose to 50.9%, an increase of 0.9 percentage points, indicating a rise in overall input prices for non-manufacturing activities [12] - The sales prices index remained at 48.8%, indicating that sales prices were below the previous month [12] - The employment index for non-manufacturing was at 46.0%, down 0.1 percentage points, indicating a slight decrease in employment levels [12] Group 5: Composite PMI Overview - The Composite PMI Output Index was 49.5%, a decrease of 0.3 percentage points, indicating a slowdown in overall production and business activities [18]