The official manufacturing PMI was% in December and has been above the line for two consecutive months. The manufacturing boom has risen steadily. Zhao Qinghe, senior statistician at the Service Industry Survey Center of the National Bureau of Statistics, pointed out that production continued to accelerate and demand continued to expand. manufacturing supply and demand are more active at both ends. The production index was%, up a percentage point from last month. Of the 21 sectors surveyed,15 were in the expansion range. The new order index is%, which is higher than the critical point for two consecutive months. In order to meet the production needs, the enterprise purchase willingness is enhanced, the purchase quantity index is%, the month-on-month increase is one percentage point.
In addition, the import and export situation improved, foreign orders increased significantly, and raw material imports continued to warm up. The new export order index was%, up from last month's percentage point, rising to the expansion range for the first time since June 2018; the import index was%, up a percentage point from a two-month period. Supply and demand also improved, with the main raw material purchase price index and the ex-factory price index both picking up.
Zhao Qinghe also said that the transformation and upgrading continued to advance, the growth of emerging industries is good. In high-tech manufacturing, equipment manufacturing and consumer goods, the PMI was%,% and%, respectively, higher than the manufacturing sector as a whole, and a percentage point.
The new PMI, mainly for small and medium-sized enterprises, also showed positive changes. Chung zhengsheng, chairman and chief economist of moneta research at caixin think tank, said the new order index had been in the expansion range for six months in a row. Manufacturers generally say it has to do with increased customer numbers, improved demand and new products. production expansion is still relatively fast due to the increase of new connection business. There have also been positive changes in business confidence, with the future output index rebounding slightly in December. New product innovation, capital investment and corporate expansion plans underpin industry growth expectations.
Many institutions continue to be bullish on manufacturing and economic trends. \"The further improvement in the production index and the high level of new orders reflect the stability of investment, improved consumer demand, the mitigation of external environmental uncertainty and the slowing of the destocking process together to support business confidence.\" Shen Wan Hongyuan macro senior analyst Qin Tai points out.
“Production and demand indicators are performing well at the same time, and the margin reinforces the current tendency for the economy to stabilize and pick up in short periods." Huang wentao, chief analyst at citic jiansu macro.
Huatai macro chief macro researcher Li Chao agreed that November, December PMI continued to strengthen, the economic stability signal has emerged, as the counter-cyclical policy further efforts, the first quarter of 2020 economic recovery can be expected.