In May 2012, the Chinese manufacturing sector purchasing managers index (PMI) was 50.4%, 2.9 percentage points lower than the month.

In terms of company size, the PMIs of large and medium-sized companies were 51.1% and 50.8%, respectively, down 2.7 and 2.6 percentage points from the previous month, and they were still above the critical point; the PMI of small-sized enterprises was 45.2%, which was 3.9 percentage points lower than the previous month. 2 consecutive months below the critical point.

In May 2012, the five sub-indices that make up the manufacturing PMI generally declined.

The production index is 52.9%, which is still above the critical point, but 4.3% lower than the previous month, which is the lowest point since December 2011, indicating that the production growth of manufacturing enterprises has obviously slowed down. From the perspective of the industry, the production volume of the metal products industry, food and wine beverage refined tea manufacturing, petroleum processing and coking industry, and electrical machinery equipment manufacturing industry maintained steady growth; automobile manufacturing, wood processing and furniture manufacturing, railway shipbuilding The production index of aerospace transportation equipment manufacturing, papermaking printing, cultural and educational entertainment products manufacturing, special equipment manufacturing and other industries is below the critical point, and the production volume of enterprises has declined to varying degrees from the previous month.

The new orders index was 49.8%, down 4.7 percentage points from the previous month. After reaching a critical point for four consecutive months, this month fell below the critical point, indicating that the demand for the manufacturing market is showing signs of falling. From the industry perspective, the new orders index for the metal products industry, food and wine beverages refined tea manufacturing industry, electrical machinery equipment manufacturing industry, petroleum processing and coking industry, textile and apparel industry, etc. are above the critical point, and market demand has increased; The market demand for timber processing and furniture manufacturing, special equipment manufacturing, automobile manufacturing, railway shipbuilding and aerospace transportation equipment manufacturing, ferrous metal smelting and rolling processing industries declined significantly. At the same time, the survey results showed that the foreign new order index reflecting the foreign trade of manufacturing industry was 50.4%, down 1.8 percentage points from the previous month; the import index was 48.1%, which was lower than the previous month by 2.4 percentage points, and fell below the critical point this month.

The raw materials inventory index was 45.1%, which was 3.4 percentage points lower than the previous month. It continues to be below the critical point, the lowest point since February 2009. From the perspective of the industry, only the raw materials inventory index of the food and wine beverage refined tea manufacturing industry and the metal products industry is higher than the critical point; other industries are located below the critical point, and the inventory of raw materials has declined to varying degrees from the previous month.

The employee index was 50.5%, down 0.5% from the previous month, indicating a slight slowdown in the growth of the labor force demand for the manufacturing industry. From the perspective of the industry, the number of enterprises in the industries of metal products, electrical machinery and equipment manufacturing, non-metal mineral products, and food and wine beverages and refined tea manufacturing increased in volume; the automobile manufacturing, wood processing and furniture manufacturing, and paper printing The use of labor in industries such as culture, education, entertainment, manufacturing, and other industries fell from the previous month.

The supplier's delivery time index was 49.0%, which was lower than the 0.6% in the previous month. It was below the critical point for 3 consecutive months, indicating that the manufacturing suppliers' delivery time has slowed down.

The survey results showed that the purchase price index of major raw materials was 44.8%, which fell sharply from the previous month by 10.0 percentage points, and fell below the critical point, indicating that the purchase price of major raw materials in the manufacturing industry fell significantly. From the perspective of the industry, the purchase prices of major raw materials in the tobacco product industry, wood processing and furniture manufacturing, pharmaceutical manufacturing and other industries rose from the previous month; petroleum processing and coking, chemical fiber and rubber and plastic products, ferrous metal smelting and rolling processing industry The purchasing prices of major raw materials in the non-ferrous metals smelting and rolling processing industry, textile industry, and electrical machinery and equipment manufacturing industries fell in turn.

In addition, out of the 11 sub-indexes this month, only the finished goods inventory index increased by 52.2% month-on-month, which was 2.7 percentage points higher than last month and rose above the critical point. Some enterprises have reported that due to the lack of market demand and poor product sales, the inventory of finished products has been overstocked, the return of funds has been difficult, and production and business activities have been affected.

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