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People's Daily Online>>China Business

China’s manufacturing recovers stably

By Du Haitao (People's Daily)

17:02, March 05, 2012

According to statistics issued by the China Federation of Logistics and Purchasing (CFLP) and the Service Industry Investigation Center of National Bureau of Statistics, the Purchase Management Index (PMI) in Feb. 2012 was 51 percent, a 0.5 percentage point increase from last month.

By February, PMI has rebounded for three consecutive months. The main leading indexes such as new order and purchasing volume have picked up obviously, which reflects that current market demand expands, production and business activities become more active and the overall manufacturing presents a steady upward trend.

In the 11 sub-indices, only the raw materials inventory index decreased and the remaining all rose in varying degrees compared to the previous month. Among them, the new order index, order backlog index and purchasing price index rose greatly, exceeding four percentage points.

Industrial production growth rebounded. This year, production index maintains a stable upward trend. It reached nearly 54 percent in February, the highest since last June. At the same time, raw materials inventory index decreased significantly, about 1 percentage point down compared to last month and to about 49 percent. The change trends of these two indexes signal that the current industrial production growth is picking up.

New export order index rose remarkably. The new export order index in February was about 51 percent, 4.2 percentage point up than last month and rising to over 50 percent for the first time since last August.

The development momentum of small businesses is getting better. Since the beginning of this year, the PMI of small businesses has picked up significantly, having ended the situation of run at lower than 50 percent for as long as eight months. The PMI last month was 52 percent; then rose further in February, reaching over 55 percent, more than 4 percentage points higher than the national average.

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