ZAWYA新闻网12月5日消息，11 月，阿联酋非油私营部门活动显著加速，采购经理指数（PMI）升至 54.8，创九个月新高，主要受强劲需求、新业务增长和良好的市场环境推动。企业在产出和招聘方面均 有所增强，新业务量达到今年最强增速。然而，因生活成本和工资上涨，投入成本以14 个月来最快速 度上升，推动整体商业成本上扬，并可能在未来带来更大通胀压力。就业增速达到18个月高位。企业对 未来活动的信心较前月回升。 ...

Core Insights - The UK construction industry is experiencing a significant contraction, with the PMI dropping from 44.1 in October to 39.4 in November, marking the fastest decline since May 2020 and the longest downturn since the global financial crisis [1][11]. Group 1: Industry Performance - The residential construction activity has reached its lowest level since May 2020, while commercial construction activity has seen a sharp decline with a sub-index of 43.8, the steepest drop in five and a half years [3][13]. - The overall construction PMI indicates a substantial shrinkage in industry activity, falling well below the neutral level of 50 [1][11]. Group 2: Factors Influencing Decline - Budget uncertainty prior to the announcement of a £26 billion tax increase in the annual budget has led to a cautious approach among businesses, resulting in delayed investment decisions and project launches [3][13]. - The lack of client confidence and the shortage of new project initiations are major factors dragging down overall activity in the construction sector [5][15]. Group 3: Employment and Market Sentiment - The employment index in the construction sector has dropped to its lowest level since August 2020, with companies citing high wage costs and reduced workloads as contributing factors [5][15]. - Industry optimism has also plummeted to a near three-year low, reflecting a general sense of caution and pessimism among industry participants until the policy environment becomes clearer [5][15]. Group 4: Impact on Related Industries - The rapid contraction in the construction sector is expected to exert downward pressure on equipment demand in the construction machinery industry, particularly affecting the short-term demand for excavators, cranes, and concrete machinery [5][15]. - The construction activity PMI serves as a leading indicator for the machinery market, with sustained low readings suggesting decreased equipment utilization and challenges for new machine sales [7][17]. Group 5: Economic Outlook - Despite a slight increase in the composite PMI for manufacturing and services, the deep decline in construction has slowed overall economic activity, with the composite PMI at 50.1 in November, down from 51.4 in October [7][17]. - The future recovery of the UK construction industry will largely depend on the stability of the macroeconomic policy environment, interest rate trends, and the restoration of business confidence [9][19].

【纠错】 【责任编辑:刘阳】 标普指出，企业新接订单连续两月增加，升幅逾两年半以来最大；出口订单逾一年以来首次恢复增 长，来自内地的订单需求创两年多以来最高。客户需求升温，令生产扩张速度逾两年半以来最快。 新华社香港12月3日电 标普全球3日公布，11月香港采购经理指数（PMI）升至52.9，连续4个月处 于50以上，反映香港营商环境持续好转，扩张速度是逾两年半以来最快，较10月上升1.7。 ...

新华财经香港12月3日电（记者林迎楠）标普全球3日公布，香港11月采购经理指数（PMI)经季节调整 后，由上月的51.2升至52.9，连续4个月处于50以上的扩张区间，是去年4月以来最大增长幅度。 标普指出，不管来自海外巿场，还是中国内地，订单需求都比上月殷切，而在生产与新订单升幅同时扩 大的情况下，营商景气更加改善。需求转趋稳健，带动企业积极采购，但对未来一年经营前景，业者仍 审慎看淡。 标普全球市场财智经济学家Usamah Bhatti表示，香港私营企业在踏入2025尾声前，景气表现更加稳健。 环顾本土、海外，以至来自中国内地的订单需求，都更加畅旺。成本压力未见纾缓，在原材料价格飙升 的情况下，11月的投入成本加速向上。面对成本高涨，企业提高售价，升幅为去年10月以来最大。 （文章来源：新华财经） 数据显示，企业新接订单量连续两月增加，升幅为2023年5月以来最大。来自中国内地的订单需求，升 幅也较上月扩大，创28个月以来最高。虽然订单需求和业务经营有显著增长，但企业在11月对增聘员工 仍在观望，为三个月内第二度精简人手。 ...

标普指，企业新接订单连续2个月增加，升幅为逾2年半以来最大；出口订单逾1年以来首次恢复增长， 来自内地的订单创28个月以来最高。客户需求升温，令生产扩张速度逾2年半以来最快。 不过，企业看淡未来1年业务前景，对增聘人手持观望态度，并且在3个月内第二度精简人手。采购价格 和员工成本上升，企业因而提高产出售价，升幅为去年10月以来最大。 （原标题：标普全球：香港11月PMI升至52.9 扩张速度逾2年半以来最快） 智通财经APP获悉，标普全球公布，香港11月采购经理指数(PMI)升至52.9，连续4个月处于50以上的扩 张区间，反映香港营商环境持续好转，扩张速度是逾2年半以来最快，10月PMI为51.2。 ...

一、中国制造业采购经理指数运行情况 11月份，制造业采购经理指数(PMI)为49.2%，比上月上升0.2个百分点，景气水平有所改善。 从企业规模看，大型企业PMI为49.3%，比上月下降0.6个百分点，低于临界点；中、小型企业PMI分别 为48.9%和49.1%，比上月上升0.2个和2.0个百分点，均低于临界点。 从分类指数看，在构成制造业PMI的5个分类指数中，供应商配送时间指数高于临界点，生产指数位于 临界点，新订单指数、原材料库存指数和从业人员指数均低于临界点。 生产指数为50.0%，比上月上升0.3个百分点，位于临界点，表明制造业生产总体稳定。 11月份，非制造业商务活动指数为49.5%，比上月下降0.6个百分点。 分行业看，建筑业商务活动指数为49.6%，比上月上升0.5个百分点；服务业商务活动指数为49.5%，比 上月下降0.7个百分点。从服务业行业看，铁路运输、电信广播电视及卫星传输服务、货币金融服务等 行业商务活动指数均位于55.0%以上较高景气区间；房地产、居民服务等行业商务活动指数均低于临界 点。 新订单指数为45.7%，比上月下降0.3个百分点，表明非制造业市场需求回落。分行业看，建筑业 ...

Core Insights - The manufacturing PMI in November increased to 49.2%, indicating a slight improvement in manufacturing activity, while the non-manufacturing business activity index decreased to 49.5%, reflecting a decline in non-manufacturing sectors [1][2][4] Manufacturing Sector - The manufacturing PMI rose by 0.2 percentage points from the previous month, with most sub-indices showing improvement, suggesting a stabilization in production activities and a recovery in demand [2] - The production index and new orders index for manufacturing were at 50.0% and 49.2%, respectively, both showing increases of 0.3 and 0.4 percentage points from last month [2] - The new export orders index improved significantly to 47.6%, up by 1.7 percentage points [2] - The purchasing price index for raw materials rose to 53.6%, indicating a faster increase in raw material prices, while the ex-factory price index increased to 48.2%, showing a narrowing decline in finished product prices [2] - High-tech manufacturing maintained expansion with a PMI of 50.1%, while equipment manufacturing and consumer goods sectors saw slight declines in their PMIs [2] Business Activity by Enterprise Size - Small enterprises showed a significant recovery with a PMI of 49.1%, up by 2.0 percentage points, marking a six-month high [3] - Large enterprises experienced a decline in PMI to 49.3%, down by 0.6 percentage points, while medium-sized enterprises saw a slight improvement to 48.9% [3] Non-Manufacturing Sector - The non-manufacturing business activity index fell to 49.5%, down by 0.6 percentage points, primarily due to seasonal effects from the high base during the National Day and Mid-Autumn Festival [4] - The service sector's business activity index decreased to 49.5%, reflecting a 0.7 percentage point drop, but is expected to recover as year-end consumption demand increases [4] - The financial sector showed strong performance with business activity and new orders indices rising above 55%, indicating robust activity in banking and capital market services [4] - The construction sector's business activity index improved to 49.6%, up by 0.5 percentage points, driven by accelerated project progress and supportive financial policies [4] Policy and Economic Outlook - Experts suggest that the slight recovery in manufacturing PMI indicates improved market confidence, but caution that the index remains below the threshold, highlighting ongoing economic pressures [5] - There is a call for enhanced macroeconomic policy measures to stimulate demand and support investment, particularly as the year-end approaches [5][6] - Anticipated policy support and the release of pent-up demand are expected to stabilize investment and consumption, contributing to a positive economic close for the year [6]

Group 1: Manufacturing Sector - In November, China's manufacturing PMI rose to 49.2%, an increase of 0.2 percentage points from October, indicating an improvement in economic conditions [1] - The production index and new orders index were reported at 50.0% and 49.2%, respectively, with increases of 0.3 and 0.4 percentage points from the previous month [1] - The high-tech manufacturing PMI stood at 50.1%, remaining above the critical point for ten consecutive months, reflecting ongoing expansion in this sector [1][3] Group 2: Market Demand and Orders - The new orders index for manufacturing increased by 0.4 percentage points to 49.2%, suggesting a recovery in market demand [2] - The new export orders index rose by 1.7 percentage points to 47.6%, contributing significantly to the increase in the new orders index [2] - Recent policy measures, including the introduction of 500 billion yuan in new policy financial tools, are expected to stimulate infrastructure and manufacturing investments, thereby boosting domestic market demand [2] Group 3: Inventory and Production Trends - The raw materials inventory index remained below the prosperity line at 47.3%, indicating a continued destocking trend, while the finished goods inventory index also decreased, suggesting accelerated destocking [3] - The difference between the new orders index and the finished goods inventory index expanded by 1.2 percentage points, indicating that companies are focusing on reducing inventory levels [2][3] Group 4: Sector-Specific Insights - The high-tech manufacturing sector continues to show resilience and growth, with a PMI of 50.1%, despite a slight decline from the previous month [3] - The equipment manufacturing PMI fell to 49.8% and the consumer goods manufacturing PMI dropped to 49.4%, both entering contraction territory, indicating a potential need for policy adjustments to stimulate these sectors [3] - The construction sector's business activity index improved to 49.6%, driven by the completion of the 500 billion yuan policy financial tool, which is expected to support infrastructure investment [5]

国家统计局发布数据显示，11月份，制造业采购经理指数（PMI）为49.2%，比上月上升0.2个百分点，景气水平有所改善。 一、中国制造业采购经理指数运行情况 11月份，制造业采购经理指数（PMI）为49.2%，比上月上升0.2个百分点，景气水平有所改善。 从企业规模看，大型企业PMI为49.3%，比上月下降0.6个百分点，低于临界点；中、小型企业PMI分别为48.9%和49.1%，比上月上升0.2个和2.0个百分点， 均低于临界点。 从分类指数看，在构成制造业PMI的5个分类指数中，供应商配送时间指数高于临界点，生产指数位于临界点，新订单指数、原材料库存指数和从业人员指 数均低于临界点。 生产指数为50.0%，比上月上升0.3个百分点，位于临界点，表明制造业生产总体稳定。 新订单指数为49.2%，比上月上升0.4个百分点，表明制造业市场需求景气水平有所改善。 原材料库存指数为47.3%，与上月持平，低于临界点，表明制造业主要原材料库存量继续减少。 | | | | | | | | | 单位:% | | --- | --- | --- | --- | --- | --- | --- | --- | --- | | ...

Group 1: Manufacturing PMI Overview - In November, the Manufacturing Purchasing Managers' Index (PMI) was 49.2%, an increase of 0.2 percentage points from the previous month, indicating an improvement in economic conditions [1] - The PMI for large enterprises was 49.3%, a decrease of 0.6 percentage points, while the PMIs for medium and small enterprises were 48.9% and 49.1%, increasing by 0.2 and 2.0 percentage points respectively, all remaining below the critical point [6] - The production index was at 50.0%, up 0.3 percentage points, indicating overall stability in manufacturing production [6] - The new orders index rose to 49.2%, an increase of 0.4 percentage points, suggesting an improvement in market demand [6] - The raw materials inventory index remained at 47.3%, indicating a continued decrease in the inventory of major raw materials [6] Group 2: Non-Manufacturing PMI Overview - In November, the Non-Manufacturing Business Activity Index was 49.5%, a decrease of 0.6 percentage points from the previous month [10] - The construction industry business activity index was 49.6%, up 0.5 percentage points, while the service industry index was 49.5%, down 0.7 percentage points [13] - The new orders index for non-manufacturing was 45.7%, down 0.3 percentage points, indicating a decline in market demand [18] - The input price index was 50.4%, up 1.0 percentage points, reflecting an overall increase in input prices for non-manufacturing enterprises [18] - The business activity expectation index was 56.2%, indicating that most non-manufacturing enterprises remain optimistic about market development [20] Group 3: Comprehensive PMI Overview - The Comprehensive PMI Output Index for November was 49.7%, a decrease of 0.3 percentage points from the previous month [25]