库存方面，原材料库存和产成品库存均转入收缩态势，读数均为近三年里较低指数，原材料库存水平为 七个月来的首次下降。价格方面，原材料价格和出厂价格依旧维持"原材料涨价，产成品降价"的分化格 局，专家指出，金属价格上涨是导致成本增加的主要原因，但原材料价格涨幅与出厂价格跌幅均有所收 窄，企业盈利空间持续承压。受新订单增长放缓影响，从业人员指数再入收缩区间。 整体来看，11月RatingDog中国制造业PMI表现由扩张转为收缩。各分项中，新出口订单的回暖并没有 带动制造业延续扩张。展望未来，但考虑到冲刺全年5%增长目标的需要，年末供需侧或存在阶段性发 力可能，预计12月PMI将呈现弱扩张态势。 中国11月RatingDog制造业PMI降至49.9(预期50.5，前值50.6)，制造业呈现弱收缩态势。 从分项指标来看，11月生产与需求两端的扩张均呈现放缓趋势，且趋近停滞。需求端方面，尽管新出口 订单量有所回升，但仍未能改变制造业的低迷状态，新订单扩张态势几乎停滞。生产端方面，在新订单 增长整体放缓的影响下，制造商减少了用工规模和采购量，并在库存管理上变得更加谨慎。生产相关分 项指数环比均有所下降，采购量跌入收缩区间。 ...

中国8月RatingDog服务业PMI录得53，预期52.5，前值52.6。中国8月RatingDog综合PMI录得51.9，前值50.8。其中服务业新接业务量录得2024年5月后最快增速，新订单连续第二个月加速增长，增速同样创2024年5月后最高纪录，其中部分贡献来自新出口业务，录得2月份后最高增速。https://t.co/pHLQQuONhP https://t.co/9FAoPPgz5m外汇交易员 (@myfxtrader):中国8月RatingDog制造业PMI录得50.5，预期49.7，前值49.5。数据显示，制造业景气改善率5个月来最显著，同时新增出口业务量的收缩率较7月份放缓，制造商的采购量和库存量也随之增加，当月原材料和半成品库存录得2020年11月后最大增幅。 https://t.co/I5kciLs2zr ...

Economic Indicators - China's July Caixin/S&P Global Services PMI reached 52.6, exceeding expectations of 50.4 [1] - The Composite PMI registered 50.8 [1] - China's July S&P Global Manufacturing PMI came in at 49.5, below the anticipated 50.4 [2] Service Sector Performance - Service sector new business volume experienced a notable increase, marking a one-year high [1] - The improvement was attributed to enhanced basic demand and successful business expansion [1] - Foreign demand rebounded for the first time in three months, driven by increased tourism and stable trade conditions, leading to the highest export order growth since February [1] Manufacturing Sector Performance - China's manufacturing output experienced its second decline since October 2023 [3] - Surveyed companies attributed the production decrease to a slowdown in new order growth [3] - Manufacturers reported weak foreign demand, with new export orders contracting for the fourth consecutive month and at an accelerated pace compared to June [3] Cost Pressure - Average input costs continued to rise in July due to increased raw material, fuel, and payroll expenses [1]