National Bureau of Statistics service survey center
China Federation of Logistics and Purchasing
In December 2017, China's non-manufacturing business activity index was 55.0%, an increase of 0.2 percentage points from the previous month and continuing above the critical point. The non-manufacturing expansion accelerated somewhat.
In terms of industries, the index of business activities in service industry was 53.4%, down slightly by 0.2% from the previous month and the index remained at an expansion of 53.5% since the fourth quarter, and the overall operation was stable. From a general industry perspective, the postal express delivery industry, Business radio and television and satellite transmission services, Internet software and information technology services, money market services, insurance and other industries business activity index is located in the high boom range, business activities are more active, the total business volume continued rapid growth .Catering industry, capital markets The index of business activities in sectors such as services, real estate, residential services and repair was below the critical point and the total number of businesses dropped slightly. The index of business activity in the construction industry was 63.9%, up 2.5 percentage points from the previous month and 60.0 for two consecutive months Above the high boom range, construction industry production and operation activities have accelerated.
The new order index was 52.0%, up 0.2 ppt from the previous month and above the critical point, indicating that the growth in demand in the non-manufacturing market has accelerated. According to the industry, the new order index for service industry was 50.9%, down from the previous month 0.3 percentage points higher than the critical point.The construction new orders index was 58.1%, an increase of 3.0 percentage points from the previous month and for two consecutive months was in the upper bound of the economy.
The price index of input goods was 54.8%, down 1.4 percentage points from the previous month and above the critical point, indicating that the overall level of input prices for non-manufacturing enterprises engaged in business activities continued to rise, but the increase rate narrowed. The price index of inputs was 53.2%, down 1.7 percentage points from the previous month. The price index of construction inputs was 64.3%, an increase of 0.4 percentage points from the previous month.
The sales price index was 52.6%, down 0.2 percentage points from the previous month and above the critical point, indicating that the overall non-manufacturing sales price edged down slightly. In terms of industries, the sales price index of service industry was 52.0%, down from the previous month 0.5 percentage points. The construction industry sales price index was 55.6%, up 0.8 percentage points from the previous month.
The index for practitioners was 49.3%, slightly up by 0.1 percentage points month-on-month and continuing below the critical point, indicating a slight decrease in the number of non-manufacturing employees. According to the industry, the service industry practitioners index was 48.2% Down by 0.3 percentage point.The construction industry practitioners index was 55.9%, an increase of 2.3 percentage points from the previous month.
The expected index of business activities was 60.9%, down 0.7 percentage points from the previous month and still maintaining a high of over 60.0%. According to the industry, the index for business activities in service industry was 60.3%, down 0.6 percentage points from the previous month. The expected index of business activities was 64.1%, down 1.5 percentage points from the previous month.
Table 1 China Non-manufacturing Sub-index (Seasonally adjusted)
| Unit:% | ||||||
|
| Business activities | new order | Inputs price | selling price | Practitioners | Business Activity expected |
| December 2016 | 54.5 | 52.1 | 56.2 | 51.9 | 50.0 | 59.5 |
| January 2017 | 54.6 | 51.3 | 55.1 | 51.0 | 49.8 | 58.9 |
| February 2017 | 54.2 | 51.2 | 53.7 | 51.4 | 49.7 | 62.4 |
| March 2017 | 55.1 | 51.9 | 52.3 | 49.7 | 49.1 | 61.3 |
| April 2017 | 54.0 | 50.5 | 51.7 | 50.2 | 49.5 | 59.7 |
| May 2017 | 54.5 | 50.9 | 51.1 | 48.8 | 49.0 | 60.2 |
| June 2017 | 54.9 | 51.4 | 51.2 | 49.3 | 49.6 | 61.1 |
| July 2017 | 54.5 | 51.1 | 53.1 | 50.9 | 49.5 | 61.1 |
| August 2017 | 53.4 | 50.9 | 54.4 | 51.5 | 49.5 | 61.0 |
| September 2017 | 55.4 | 52.3 | 56.1 | 51.7 | 49.7 | 61.7 |
| October 2017 | 54.3 | 51.1 | 54.3 | 51.6 | 49.4 | 60.6 |
| November 2017 | 54.8 | 51.8 | 56.2 | 52.8 | 49.2 | 61.6 |
| December 2017 | 55.0 | 52.0 | 54.8 | 52.6 | 49.3 | 60.9 |
Table 2 China Non-manufacturing Other Sub-indices (Seasonally adjusted)
| Unit:% | ||||
|
| New export order | Order in hand | stock | Supplier delivery time |
| December 2016 | 48.9 | 44.0 | 47.2 | 51.6 |
| January 2017 | 46.4 | 44.6 | 46.2 | 51.4 |
| February 2017 | 50.1 | 43.5 | 45.8 | 52.1 |
| March 2017 | 48.8 | 44.7 | 45.8 | 51.4 |
| April 2017 | 47.1 | 44.0 | 46.2 | 52.0 |
| May 2017 | 48.5 | 43.7 | 46.1 | 51.8 |
| June 2017 | 49.8 | 44.6 | 45.9 | 51.8 |
| July 2017 | 52.1 | 43.9 | 45.9 | 51.7 |
| August 2017 | 49.0 | 44.0 | 45.5 | 51.1 |
| September 2017 | 49.7 | 44.2 | 47.0 | 51.6 |
| October 2017 | 50.7 | 43.9 | 46.4 | 51.1 |
| November 2017 | 50.9 | 44.1 | 46.5 | 51.6 |
| December 2017 | 51.5 | 43.8 | 46.3 | 51.3 |
Note:
1. Indicator explanation
China's non-manufacturing PMI indicator system consists of business activity index, new order index, new export order index, in-hand order index, inventory index, input price index, sales price index, practitioners index, supplier delivery time index, business Activity index, etc. Since there is no synthetic non-manufacturing integrated PMI index, the international business activity index is usually used to reflect the overall changes in the non-manufacturing economic development with 50% as the economic strength of the demarcation point, Above 50%, it reflects the non-manufacturing economic expansion; below 50%, it reflects the non-manufacturing economic contraction.
2. Survey area
Involved in the "classification of national economy" (GB / T4754-2011) manufacturing industry in Central Africa 31 industry sectors, 4,000 survey samples.
3. Method of investigation
Non-manufacturing purchasing managers survey using PPS (Probability Proportional to Size) sampling method, the non-manufacturing industry as a class, the sample size of the industry added value of all non-manufacturing value added weight distribution, the use of samples and The main business income of enterprises in proportion to the probability of extraction.
The investigation was carried out by the investigation team directly under the State Statistics Bureau. Monthly survey was conducted on the purchasing managers of the enterprises by using the national statistical networking direct reporting system.
4. Calculation method
Non-manufacturing Purchasing Managers Questionnaires covered 10 questions, such as total business volume, new orders (business requirements), export orders, inventories, input prices, sales prices, employees, supplier delivery time, and expected business activities. The diffusion index is calculated separately for each question, which is the percentage of firms that answered positively plus half the percentage that answered the same.
Season adjustment
The PMI survey is a monthly survey that is subject to seasonal variations and has volatile data. The published non-manufacturing PMI indices are all seasonally adjusted data.