Caixin Tuesday (August 1) announced that China ’s manufacturing procurement manager index (PMI) recorded 49.2, below June 1.3 percentage points, and fell to the Rongku Line again after two months.under.
This trend is not consistent with the National Bureau of Statistics of China.The July manufacturing PMI, which was published on Monday (July 31), was slightly up to 49.3, which was higher than June 0.3 percentage points. It was a contraction range below 50 for four consecutive months.
From the perspective of the various points of PMI PMI in Caixin China, the demand for manufacturing in June is weak, and the supply has contracted simultaneously.The new manufacturing order index and the production index of the month were recorded from January and February, respectively.
Investigation companies reported that the recent market conditions have been weak, customer demand has decreased accordingly, and new orders have reappeared after two months of continuous growth. Affected by this, manufacturers' output has also contracted slightly.Foreign demand is the main factor in dragging the demand for manufacturing.As the risk of overseas economic recession increased, foreign demand was significantly inadequate, and the new export order index in July dropped sharply to a new low since October 2022.
In July, the employment industry's employment continued to deteriorate, and the scale of employment declined for the fifth consecutive month, but the margin of the decline slowed down.The reasons for reducing employment in enterprises are mainly due to limited market demand, and there are also considerations to reduce costs and increase efficiency.
Manufacturing procurement activities are also the same as production. For the first time since the beginning of the year, slight contraction.At the same time, raw material inventory increased slightly, but the increase was slower than June; the finished product inventory index was higher than the Rongku line after October 2022, and the increase was slight.
Wang Yan, a senior economist of Caixin Think Tank, said that in July, the prosperity of the manufacturing industry fell to the contraction range, and the low macro -prosperity and the pressure on the economic downward were still indisputable.The Political Bureau of the Central Committee of the Communist Party of China has set up new difficulties in economic operations, and the external environment is complicated and severe. It emphasizes that it is necessary to actively expand domestic demand and play the basic role of consumer economic growth.The policy level is still important to maintain employment, stable expectations, and increasing residents' income.The current monetary policy has limited effect on the supply side, and active fiscal policies for demand should become a priority option.
