According to the National Bureau of Statistics website, on September 30, the Service Industry Survey Center of the National Bureau of Statistics and the China Federation of Logistics and Purchasing released the China Purchasing Managers' Index. Zhao Qinghe, Senior Statistician of the Service Industry Survey Center of the National Bureau of Statistics, provided an interpretation of the data.

In September, the manufacturing PMI was 49.8%, up 0.7 percentage points from the previous month; the non-manufacturing business activity index was 50.0%, down 0.3 percentage points from the previous month; and the composite PMI output index was 50.4%, up 0.3 percentage points from the previous month. Overall, China's economic prosperity level recovered somewhat.

　　Manufacturing PMI rebounds

In September, manufacturing production activity accelerated, with the PMI rising to 49.8%, indicating an improvement in business conditions.

Enterprise production accelerated. The production index was 51.2%, up 1.4 percentage points from the previous month and rising above the threshold, indicating faster manufacturing production activity. The new orders index was 49.9%, up 1.0 percentage point from the previous month. By industry, the production and new orders indices for pharmaceuticals, automobiles, electrical machinery and equipment, and computer, communications and electronic equipment were all in the expansion range, with production and demand releasing rapidly; the production and new orders indices for petroleum, coal and other fuel processing, and ferrous metal smelting and rolling processing remained below the threshold for two consecutive months, with production and demand slowing somewhat.

PMI for enterprises of all sizes rebounded. The PMI for large enterprises was 50.6%, up 0.2 percentage points from the previous month, with the pace of expansion accelerating somewhat; the PMIs for medium and small enterprises were 49.2% and 48.5%, up 0.5 and 2.1 percentage points from the previous month, with business conditions improving for both. The production indices for large, medium and small enterprises were all in the expansion range, with the production index for small enterprises rising above the threshold for the first time since May.

High-tech manufacturing and equipment manufacturing continued to lead. By key industry, the PMIs for high-tech manufacturing and equipment manufacturing were 53.0% and 52.0%, up 1.3 and 0.8 percentage points from the previous month, maintaining sound development momentum; the PMI for the consumer goods industry was 51.1%, up 1.1 percentage points from the previous month, with business conditions clearly recovering; the PMI for high energy-consuming industries was 46.6%, up 0.2 percentage points from the previous month.

Price indices remained at low levels. The purchase price index for major raw materials and the ex-factory price index were 45.1% and 44.0%, up 1.9 and 2.0 percentage points from the previous month, still at relatively low operating levels, indicating that affected by factors such as insufficient effective demand and price fluctuations of some bulk commodities, the overall price level in manufacturing continued to decline, though the decline narrowed somewhat. By industry, the purchase price indices for major raw materials and the ex-factory price indices for petroleum, coal and other fuel processing, and ferrous metal smelting and rolling processing remained at low levels for two consecutive months, with the overall price levels in related industries fluctuating considerably recently.

　　Non-manufacturing business activity index edged down

In September, the non-manufacturing business activity index was 50.0%, down 0.3 percentage points from the previous month, sitting at the threshold.

Service sector business conditions edged down. The service sector business activity index was 49.9%, down 0.3 percentage points from the previous month and slightly below the threshold, with total service sector business volume basically flat from the previous month. By industry, the business activity indices for postal services, telecommunications, radio and television and satellite transmission services, internet software and information technology services, and monetary and financial services were all in the relatively high prosperity range above 55.0%, with total business volume maintaining relatively rapid growth; as the summer travel peak ended and some regions were affected by extreme weather such as typhoons, the business activity indices for railway transport, waterway transport, and culture, sports and entertainment fell considerably, all dropping into the contraction range. In terms of market expectations, the business activity expectations index was 54.6%, remaining in the prosperity range, with the business activity expectations indices for postal services, telecommunications, radio and television and satellite transmission services, and monetary and financial services all in the high prosperity range above 60.0%, indicating that enterprises are more optimistic about recent industry development.

Construction expansion accelerated slightly. The construction business activity index was 50.7%, up 0.1 percentage points from the previous month, continuing to expand. In terms of market expectations, the business activity expectations index was 53.1%, remaining in the expansion range. Among them, the business activity expectations indices for civil engineering construction and building installation and decoration were both in the relatively high prosperity range above 55.0%, indicating strong enterprise confidence in industry development.

　　Composite PMI output index continued to expand

In September, the composite PMI output index was 50.4%, up 0.3 percentage points from the previous month and continuing in the expansion range, indicating that the overall expansion of enterprise production and operating activities in China accelerated somewhat. The manufacturing production index and the non-manufacturing business activity index, which make up the composite PMI output index, were 51.2% and 50.0%, respectively.