Driven by the "Eleventh Golden Week" small holiday, the prosperity of China's service industry has recovered slightly. In October, the PMI of Caixin Service Industry recorded 50.4, an increase of 0.2 percentage points from September.
Caixin.com announced the above data on Friday (November 3).
Earlier, the October Caixin China Manufacturing Industry PMI, which was published on Wednesday (November 1st), was recorded by 49.5, a decrease of 1.1 percentage points from September, and fell to the Rongku Line again.The decline in the prosperity of the manufacturing industry is greater than the rise of the service industry. In October, Caixin China Comprehensive PMI declined 0.9 percentage points to 50.0.
Caixin China Manufacturing PMI and Comprehensive PMI are consistent with the PMI of the National Bureau of Statistics of China. The PMI performance of Caixin China Service Industry is better.According to data recently released by the Bureau of Statistics, the PMI of the manufacturing and service industry in October fell 0.7, 0.8 percentage points to 49.5, 50.1; the comprehensive PMI recorded 50.7, which was lower than September 1.3 percentage points.
Following the rise in the bottom of September, the new export order index of the service industry continued to rise in the expansion range in October.Enterprises believe that this is related to factors such as the increase in the number of overseas visitors and the overall improvement of external demand.
Data show that in October, the employment employment of service industry remained stable, and the employment index fell to the Rongku dividing line, ending the expansion of eight consecutive months.
As the cost of employment, raw materials, transportation costs continued to increase, the cost of service industry in October was still rising, but the increase was the smallest in July last year.In order to digest the pressure of digestion, the company has to increase the sales price. The factory price index has been on the expansion range for two consecutive months, and it is the highest since June.
The continuous weakness of the needs of the service industry will affect future business activities. In October, the operating expectations index continued to decline in the expansion range to the lowest to the lowest in April 2020.
Wang Yan, a senior economist of Caixin Think Tank, said that in October, Caixin China Comprehensive PMI continued to renew its new year, and the demand increased slightly. Employment contracted for two consecutive months.Weak than the service industry.In the third quarter, the economic recovery signs, but the foundation of economic recovery is still unstable.
