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The May PMI came in at 51.9%, indicating an accelerated overall expansion in the manufacturing sector.
Release date:
2018-06-05
Source:
In May 2018, China’s manufacturing Purchasing Managers’ Index (PMI) came in at 51.9%, up 0.5 percentage points from the previous month, indicating an accelerated pace of overall manufacturing expansion. By enterprise size, large and medium-sized enterprises recorded PMIs of 53.1% and 51.0%, respectively—both up 1.1 and 0.3 percentage points from the previous month, remaining above the critical threshold. Meanwhile, the PMI for small enterprises fell to 49.6%, a decrease of 0.7 percentage point from the prior month, dropping below the critical level.
In May 2018, China's manufacturing Purchasing Managers' Index (PMI) came in at 51.9%, up 0.5 percentage points from the previous month, indicating an accelerated pace of overall manufacturing expansion.
Looking at enterprise size, the PMI for large and medium-sized enterprises stood at 53.1% and 51.0%, respectively—up 1.1 and 0.3 percentage points from the previous month, both remaining above the critical threshold. Meanwhile, the PMI for small enterprises dipped to 49.6%, a decrease of 0.7 percentage point from the prior month, falling below the critical level.
Looking at the sub-indices, among the five components that make up the manufacturing PMI, the production index, new orders index, and supplier delivery time index remained above the threshold, while the raw materials inventory index and employment index fell below it.
The production index came in at 54.1%, up 1.0 percentage point from the previous month and remaining above the critical threshold, indicating that the pace of manufacturing output expansion has slightly accelerated.
The new orders index came in at 53.8%, up 0.9 percentage points from the previous month, remaining in the expansion range and indicating an accelerated pace of growth in manufacturing market demand.
The raw materials inventory index came in at 49.6%, up 0.1 percentage point from the previous month, yet it remains below the critical threshold, indicating that the pace of decline in manufacturers' inventories of key raw materials has slightly slowed.
The employment index for industry professionals stood at 49.1%, up 0.1 percentage point from the previous month, though still below the critical threshold, indicating that the pace of decline in manufacturing firms' workforce has slowed.
The supplier delivery time index stood at 50.1%, down 0.1 percentage point from the previous month and hovering near the critical threshold, indicating that manufacturers’ raw material suppliers delivered goods at roughly the same pace as last month.
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