Manufacturing Activity Holds Steady

来源 :Beijing Review | 被引量 : 0次 | 上传用户:qq12441483
下载到本地 , 更方便阅读
声明 : 本文档内容版权归属内容提供方 , 如果您对本文有版权争议 , 可与客服联系进行内容授权或下架
论文部分内容阅读
  Offi cial data showed on January 31 that although China’s factory activity expanded at a slower pace in January, it still stood well above the boom-bust line, bolstering evidence of a stable broader economy.
  The manufacturing purchasing managers’ index (PMI) came in at 51.3 for January compared with 51.6 in December last year, according to the National Bureau of Statistics(NBS). A reading above 50 indicates expansion, while a reading below shows contraction.
  Despite the slowdown, the index, which was the same one year ago, suggests that factory activity remains steady, according to NBS senior statistician Zhao Qinghe.
  Echoing Zhao’s comments, Bloomberg economist Tom Orlik said that although the market may focus on the decline, “small movements in the PMI are not particularly meaningful, and the basic picture of growth at a steady, if unspectacular, pace remains unchanged.”
  The manufacturing PMI has been positive for 18 straight months.
  Sub-indices for production and new orders also dropped slightly to 53.5 and 52.6, which Zhao partly attributes to the fact that some industries entering the slack season weighed down growth in supply and demand.
  “But manufacturers of consumer products saw more increases due to the upcoming Spring Festival holiday [from February 15 to 21],” he said. Sectors including farm produce processing, food and beverages, textiles and garments, and medicine saw robust growth.
  “Consumption has demonstrated its role in driving the economy,” Zhao added.
  The Chinese economy is shifting to a consumption-led growth model, weaning itself off a reliance on exports and investment. Consumption accounted for 58.8 percent of economic growth last year.
  Meanwhile, sub-indices for raw material inventories, employment and supplier delivery times were still lower than 50. “Businesses saw easing pressure from operating costs,”Zhao said.
  The NBS data also showed that the nonmanufacturing sector has picked up the pace, with its PMI in January standing at 55.3, up from 55 in December and 54.6 for the same month last year. The index has been on a gaining streak for three months.


  The service sector, another economic driver accounting for more than half of the country’s GDP, reported stronger expansion with its sub-index rising to 54.4 from 53.4 in December. Retail, aviation, telecoms, information technology, banking and other commercial services are also looking robust.   “The earliest data for 2018 suggest China’s growth momentum is steady, though with some warning signs as export orders fall and the industrial reflation cycle turns down,” Orlik said, adding that optimism on growth prospects remains high.
  Beijing-based investment bank CICC predicted a “good start” for the economy this year in a research note, citing continued industrial strength and a pick-up in demand.
  The combined profi ts of China’s major industrial fi rms surged 21 percent last year, the fastest since 2012. “Profi tability may improve further in mid-to-downstream industries with the rising inflationary impulse in consumer goods,” said the CICC report.
  China’s economy expanded by a forecast-beating 6.9 percent in 2017, speeding up for the fi rst time in seven years and well above the government’s annual target of around 6.5 percent.
  Given this resilience, many financial institutions at home and abroad have announced plans to raise their growth forecast for this year.
  Nonetheless, concerns are on the rise as January’s PMI data showed softened export growth as overseas demand started to retreat after the Christmas and New Year holidays. The revival in exports is considered a significant factor for China to sustain its economic growth.
  Orlik warned of impacts from trade frictions with the United States, which just raised tariffs on washing machines and solar panels, major products from China and South Korea.
  The holiday factor led to seasonal volatility in economic indicators, including trade data, which is normal and is not indicative of a wider trend in 2018, the Bank of Communications said in a report. “The manufacturing PMI will rise after March and remain in expansion territory,” it said.
其他文献
为探究吕家坨井田地质构造格局,根据钻孔勘探资料,采用分形理论和趋势面分析方法,研究了井田7
Chinese technology and e-commerce giant Alibaba has developed artificial intelligence (AI) software capable of outperforming humans on a rigorous global readin
期刊
闭锁综合征(locked-in syndrome,LIS)又称去传出状态,系脑桥基底部病变所致,是临床上不太常见的一种特殊意识状态,死亡率高,早期常被误诊,如能早期确诊并治疗,则可大大提高患
期刊
@@
In January, the Chinese Government published its first white paper about the country's role in the Arctic. The white paper,titled China's Arctic Policy, declare
期刊
The Central Government recently released a package of policies on the development of rural areas, charting the course for the country’s rural vitalization strategy. This article, compiled from reports
期刊
'Our new administration had already taken swift action. A new tide of optimism was already sweeping across our land," U.S. President Donald Trump announced in h
期刊
On February 1, the 40-day 2018 Spring Festival travel season, known as Chunyun in China, officially began. As the most important traditional festival in China,
期刊
任何一位病人进入手术室,都会产生不同程度的紧张、焦虑、恐惧心理.而手术室护士作为第一时间在手术室内与病人接触的医务人员,任何一种信息的传递都会对病人的心理产生不同
Spring Festival, or the Chinese Lunar New Year, falls on February 16 this year. Hundreds of millions of people across China will return to their hometowns for family reunions or travel around the coun
期刊
成年人单个切牙反牙合烤瓷冠修复后牙移位1例,报道如下.rn1 病例报告rn患者,女,24岁.因“上前牙不齐”于2000年3月30日求治.检查见:rn