The simultaneous rebound of the three major indices reflects the warmth of China’s economic recovery

The simultaneous rebound of the three major indices reflects the warmth of China’s economic recovery

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The Service Industry Survey Center of the National Bureau of Statistics and the China Federation of Logistics and Purchasing released data on March 31. In March, China’s manufacturing purchasing managers’ index (PMI), non-manufacturing business activity index and comprehensive PMI output index were 50.8% respectively. , 53.0% and 52.7%, up 1.7, 1.6 and 1.8 percentage points from the previous month. The three major indices are all in the expansion range. Enterprise production and operation activities have accelerated, and my country’s economic prosperity has rebounded.

Industry analysts pointed out that as a leading indicator of economic performance, the three major indexes rebounded simultaneously in March, showing that my country’s economic performance continues to pick up, endogenous power continues to increase, social expectations continue to improve, and high-quality development is solidly advanced.

Zhao Qinghe, a senior statistician at the Service Industry Survey Center of the National Bureau of Statistics, said that in March, as companies accelerated their resumption of work and production after the Spring Festival, market activity increased, and the manufacturing PMI returned to the expansion range. Among the 21 industries surveyed, 15 were in the expansion zone, an increase of 10 from the previous month, and the manufacturing boom has significantly expanded.

——Both the production and demand indexes rebounded, and the import and export index returned to the expansion range.

“In March, as the policy of stabilizing the economy, expanding domestic demand and stabilizing foreign trade continued, the endogenous power of the economy continued to be released. At the same time, external demand also improved, and market demand grew well.” said Wen Tao, an expert at the China Logistics Information Center.

Statistics show that in March, the new order index was 53.0%, an increase of 4.0 percentage points from the previous month; the new export orders index was 51.3%, an increase of 5.0 percentage points from the previous month, and returned to normal after running below 50% for 11 consecutive months. return to the expansion range.

Wen Tao said that in March, the impact of the Spring Festival holiday subsided, the weather gradually warmed up, companies and construction sites fully resumed work, and the growth in demand drove companies to increase their willingness to produce. The production index was 52.2%, an increase of 2.4 percentage points from the previous month.

——The three major key industries expanded simultaneously, and the PMI of small enterprises rose to the expansion range.

In March, the high-tech manufacturing, consumer goods, and equipment manufacturing PMIs were 53.9%, 51.8%, and 51.6% respectively, up 3.1, 1.8, and 2.1 percentage points from the previous month. Among them, the high-tech manufacturing production index and new orders index both Higher than 55.0%, the production demand in related industries is accelerating.

The production and operation conditions of enterprises of different sizes have improved. In March, the PMI of large, medium and small enterprises was 51.1%, 50.6% and 50.3% respectively, an increase of 0.7, 1.5 and 3.9 percentage points from the previous month. Among them, the PMI of small enterprises rose to the expansion range for the first time in 12 months, and production and business activities accelerated.

——Market expectations continue to improve, and corporate development confidence has increased.

In March, the expectation index for production and operating activities was 55.6%, an increase of 1.4 percentage points from the previous month and rising to a relatively high prosperity range, indicating that companies have increased confidence in recent market development.

“Judging from the latest monthly data, car sales continue to grow. Following Shanghai, Beijing, Hangzhou, and Shenzhen, we have opened point-to-point pilot assistance services (PPA) in Guangzhou urban area.” Xia Yiping, CEO of Jiyue, said that China has With rich application scenarios, a large number of high-quality talents and a complete industrial supply system, the development of intelligent networked new energy vehicles has broad prospects.

However, Zhao Qinghe also said that the survey results show that enterprises still face some outstanding problems in production and operation, such as the proportion of enterprises reflecting intensified industry competition and insufficient market demand is still high. The current policies and measures to promote a new round of large-scale equipment updates and trade-in of consumer goods need to be further detailed and implemented to provide strong support for the high-quality development of the manufacturing industry.

Looking at the non-manufacturing industry, in March, the non-manufacturing business activity index was 53.0%, an increase of 1.6 percentage points from the previous month, and the non-manufacturing business boom level continued to rebound.

The service industry is picking up and improving. In March, the business activity index of the service industry was 52.4%, an increase of 1.4 percentage points from the previous month and rising for three consecutive months. In terms of market expectations, the business activity expectation index was 58.2%, an increase of 0.1 percentage points from the previous month, and continued to be in a relatively high prosperity range.

The expansion of the construction industry accelerated. Zhao Qinghe said that as the weather gets warmer and construction starts intensively after the holidays, the progress of construction projects in various places has accelerated. The business activity index of the construction industry was 56.2%, an increase of 2.7 percentage points from the previous month. The overall expansion of the construction industry has accelerated.

“In March, the comprehensive PMI output index was 52.7%, an increase of 1.8 percentage points from the previous month, indicating that the expansion of production and operation activities of Chinese enterprises has accelerated.” Zhao Qinghe said.

A series of data show that my country’s main production demand indicators have increased steadily, and the flow of people and logistics elements has become more active.

In the first two months, the profits of industrial enterprises above designated size nationwide increased by 10.2% year-on-year, and service retail sales increased by 12.3% year-on-year; the flow of personnel on my country’s highways increased by 10.3% year-on-year, of which commercial passenger traffic increased by 23.7% year-on-year; the digital freight platform was full of traffic Big data shows that from March 1 to 15, the road freight volume of agricultural supplies increased by 20.6% year-on-year…

Liu Aihua, spokesperson of the National Bureau of Statistics, said that in the next stage, we must strengthen confidence in development, pay close attention to policy implementation, effectively enhance economic vitality, prevent and resolve risks, improve social expectations, and strive to promote effective economic improvement in quality and reasonable growth in quantity.

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