PMI in February was 52.6%, up 2.5 percentage points

　　On March 1st, the website of the National Bureau of Statistics announced the operation of the China Procurement Manager Index for February 2023.

      In February, the Manufacturing Purchasing Managers' Index (PMI) was 52.6%, an increase of 2.5 percentage points from the previous month, above the critical point, and the level of manufacturing prosperity continued to rise.

      From the perspective of enterprise scale, the PMI of large, medium, and small enterprises were 53.7%, 52.0%, and 51.2%, respectively, which were 1.4, 3.4, and 4.0 percentage points higher than the previous month, all above the critical point.

      From the perspective of sub indices, among the five sub indices that make up the manufacturing PMI, the production index, new order index, employee index, and supplier delivery time index are all above the critical point, while the raw material inventory index is below the critical point.

      The new order index was 54.1%, an increase of 3.2 percentage points from the previous month, indicating that the demand in the manufacturing market continues to rebound.

      The raw material inventory index was 49.8%, an increase of 0.2 percentage points from the previous month, indicating that the decline in the inventory of major raw materials in the manufacturing industry continues to narrow.

      The employee index was 50.2%, an increase of 2.5 percentage points from the previous month, indicating an increase in the employment volume of manufacturing enterprises compared to the previous month.

      The supplier delivery time index was 52.0%, an increase of 4.4 percentage points from the previous month, indicating an acceleration in delivery time for raw material suppliers in the manufacturing industry.

      Source: CCTV Network