National Bureau of Statistics: Manufacturing PMI in November was 49.2%, a month-on-month increase of 0.2 percentage points.

On November 30, data released by the National Bureau of Statistics showed that in November, the Purchasing Managers' Index (PMI) for the manufacturing sector was 49.2%, an increase of 0.2 percentage points from the previous month, indicating a slight improvement in business conditions. The Business Activity Index for the non-manufacturing sector was 49.5%, a decrease of 0.6 percentage points from the previous month, while the comprehensive PMI output index was 49.7%, a decrease of 0.3 percentage points from the previous month. Looking at the size of enterprises, the PMI for large enterprises was 49.3%, a decrease of 0.6 percentage points from the previous month, below the critical point; the PMI for medium and small enterprises were 48.9% and 49.1% respectively, an increase of 0.2 and 2.0 percentage points from the previous month, both below the critical point. In terms of the components of the manufacturing PMI, the Supplier Delivery Time Index was above the critical point, the Production Index was at the critical point, while the New Orders Index, Raw Material Inventory Index, and Employment Index were all below the critical point. The Production Index was 50.0%, an increase of 0.3 percentage points from the previous month, indicating overall stability in manufacturing production. The New Orders Index was 49.2%, an increase of 0.4 percentage points from the previous month, indicating an improvement in market demand. The Raw Material Inventory Index was 47.3%, unchanged from the previous month, indicating a continued decrease in major raw material inventories in the manufacturing sector. The Employment Index was 48.4%, an increase of 0.1 percentage points from the previous month, indicating a slight improvement in employment conditions in the manufacturing sector. The Supplier Delivery Time Index was 50.1%, an increase of 0.1 percentage points from the previous month, indicating a slight acceleration in delivery times from raw material suppliers in the manufacturing sector. In the non-manufacturing sector, the Business Activity Index was 49.5%, a decrease of 0.6 percentage points from the previous month. By industry, the Business Activity Index for the construction industry was 49.6%, an increase of 0.5 percentage points from the previous month; the Business Activity Index for the service industry was 49.5%, a decrease of 0.7 percentage points from the previous month. In the service industry, the Business Activity Index for industries such as railway transport, telecommunications, broadcasting, and satellite transmission services, and monetary financial services were all above 55.0%, indicating a relatively high level of activity; while the Business Activity Index for industries such as real estate and residential services were below the critical point. The New Orders Index was 45.7%, a decrease of 0.3 percentage points from the previous month, indicating a decline in market demand in the non-manufacturing sector. By industry, the New Orders Index for the construction industry was 46.1%, an increase of 0.2 percentage points from the previous month; the New Orders Index for the service industry was 45.6%, a decrease of 0.4 percentage points from the previous month. The Input Price Index was 50.4%, an increase of 1.0 percentage points from the previous month, indicating a general increase in input prices for non-manufacturing businesses. By industry, the Input Price Index for the construction industry was 49.7%, an increase of 0.1 percentage points from the previous month; the Input Price Index for the service industry was 50.5%, an increase of 1.1 percentage points from the previous month. The Sales Price Index was 49.1%, an increase of 1.3 percentage points from the previous month, still below the critical point, indicating a narrowing of price declines in the non-manufacturing sector. By industry, the Sales Price Index for the construction industry was 48.4%, unchanged from the previous month; the Sales Price Index for the service industry was 49.2%, an increase of 1.5 percentage points from the previous month. The Employment Index was 45.3%, an increase of 0.1 percentage points from the previous month, indicating a slight improvement in employment conditions in the non-manufacturing sector. By industry, the Employment Index for the construction industry was 41.8%, an increase of 1.9 percentage points from the previous month; the Employment Index for the service industry was 45.9%, a decrease of 0.2 percentage points from the previous month. The Business Activity Expectations Index was 56.2%, an increase of 0.1 percentage points from the previous month, indicating that most non-manufacturing businesses remain optimistic about market developments. By industry, the Business Activity Expectations Index for the construction industry was 57.9%, an increase of 1.9 percentage points from the previous month; the Business Activity Expectations Index for the service industry was 55.9%, a decrease of 0.2 percentage points from the previous month. In November, the comprehensive PMI output index was 49.7%, a decrease of 0.3 percentage points from the previous month. This article is compiled from the official website of the National Bureau of Statistics.