【数据发布】2026年3月中国采购经理指数运行情况

Group 1: Manufacturing PMI Overview - The Manufacturing Purchasing Managers' Index (PMI) for March is 50.4%, an increase of 1.4 percentage points from the previous month, indicating a recovery in manufacturing sentiment [1][4] - Large enterprises have a PMI of 51.6%, while small and medium enterprises have PMIs of 49.0% and 49.3%, respectively, both below the critical point [4] - The production index is at 51.4%, up 1.8 percentage points, indicating accelerated manufacturing activity, while the new orders index is at 51.6%, up 3.0 percentage points, showing improved market demand [5] Group 2: Manufacturing Sub-Indices - The raw materials inventory index is at 47.7%, indicating a narrowing decline in inventory levels, while the employment index is at 48.6%, suggesting a slight recovery in employment sentiment [5][6] - The supplier delivery time index is at 49.5%, indicating extended delivery times for raw materials compared to the previous month [7] Group 3: Non-Manufacturing PMI Overview - The Non-Manufacturing Business Activity Index for March is 50.1%, an increase of 0.6 percentage points, indicating an improvement in non-manufacturing sentiment [10] - The construction industry activity index is at 49.3%, up 1.1 percentage points, while the services industry index is at 50.2%, up 0.5 percentage points [11] Group 4: Non-Manufacturing Sub-Indices - The new orders index for non-manufacturing is at 45.0%, down 0.2 percentage points, indicating a decline in market demand [14] - The input price index is at 52.3%, up 1.4 percentage points, indicating rising costs for non-manufacturing enterprises [14] - The employment index for non-manufacturing is at 45.2%, down 0.8 percentage points, indicating a decline in employment sentiment [14] Group 5: Composite PMI Overview - The Composite PMI Output Index for March is 50.5%, an increase of 1.0 percentage points, indicating an overall improvement in production and business sentiment across sectors [21]