经济扩张与收缩
Search documents
2025年9月中国采购经理指数运行情况
Guo Jia Tong Ji Ju· 2025-09-30 01:30
Group 1: Manufacturing PMI Overview - In September, the Manufacturing Purchasing Managers' Index (PMI) was 49.8%, an increase of 0.4 percentage points from the previous month, indicating continued improvement in manufacturing sentiment [1] - The PMI for large enterprises was 51.0%, up 0.2 percentage points, while medium-sized enterprises saw a PMI of 48.8%, down 0.1 percentage points, and small enterprises had a PMI of 48.2%, up 1.6 percentage points [4] - The production index was 51.9%, up 1.1 percentage points, indicating accelerated production expansion, while the new orders index was 49.7%, up 0.2 percentage points, suggesting improved market demand [4] Group 2: Manufacturing PMI Components - The raw material inventory index was 48.5%, up 0.5 percentage points, indicating a continued narrowing of the decline in raw material inventory levels [4] - The employment index was 48.5%, up 0.6 percentage points, reflecting improved employment sentiment in manufacturing [4] - The supplier delivery time index was 50.8%, up 0.3 percentage points, indicating faster delivery times from suppliers [4] Group 3: Non-Manufacturing PMI Overview - In September, the Non-Manufacturing Business Activity Index was 50.0%, a decrease of 0.3 percentage points from the previous month, indicating overall stability in non-manufacturing business volume [8] - The construction industry business activity index was 49.3%, up 0.2 percentage points, while the service industry index was 50.1%, down 0.4 percentage points [10] Group 4: Non-Manufacturing PMI Components - The new orders index for non-manufacturing was 46.0%, down 0.6 percentage points, indicating a decline in market demand [14] - The input prices index was 49.0%, down 1.3 percentage points, suggesting a decrease in the overall level of input prices for non-manufacturing enterprises [14] - The employment index for non-manufacturing was 45.0%, down 0.6 percentage points, indicating a decline in employment sentiment [16] Group 5: Composite PMI Overview - The Composite PMI Output Index was 50.6%, an increase of 0.1 percentage points from the previous month, indicating continued acceleration in overall production and business activities [19]