The new orders index for the textile industry is below the critical point for two consecutive months

In August 2010, the China Manufacturing Purchasing Managers' Index (PMI) reached 51.7%, marking a 0.5 percentage point increase from the previous month. This was the first rebound after three consecutive months of decline, keeping the index above the 50% threshold—a sign that China's manufacturing sector remained in expansion mode. The PMI is a key indicator of economic health, and its sustained performance above 50% suggests continued growth in the manufacturing industry. Among the five sub-indices that make up the PMI, the production, new orders, and supplier delivery time indices rose in August, while the raw material inventory and employment indices saw slight declines. The production index climbed to 53.1%, up 0.4 percentage points from July, maintaining its position above the critical level for 19 consecutive months. This indicates steady growth in manufacturing output. Notably, several industries experienced significant increases in production, including beverage manufacturing, metal products, and petroleum refining. Meanwhile, the ferrous and non-ferrous metal smelting sectors rebounded after two months of decline. However, some sectors, such as chemical fiber, rubber and plastic, pharmaceuticals, and transportation equipment manufacturing, remained below the 50% mark, signaling ongoing challenges. The new orders index also improved, reaching 53.1%, up 2.2 percentage points from the prior month. This reflects growing demand across many sectors, particularly in agriculture, food processing, and special equipment manufacturing. However, the textile and chemical fiber industries continued to struggle, with their new orders index remaining below the critical point for two consecutive months. Export orders also increased, with the export order index rising to 52.2%. The raw material inventory index dropped slightly to 47.3%, remaining below the 50% threshold for the third consecutive month. Companies were reported to be reducing purchases due to rising raw material prices, relying instead on existing stock to sustain operations. Industries such as non-metallic minerals, chemical fibers, and plastics saw notable declines in inventory levels. The employment index stood at 51.7%, slightly lower than the previous month but still above the critical point for six months in a row. This suggests that labor demand in manufacturing remained stable. While some sectors, like metal products and food processing, saw an increase in hiring, others, such as textiles, experienced a decline. The supplier delivery time index rose to 50.7%, indicating that suppliers were delivering materials slightly faster than the previous month. Meanwhile, the purchase price index for major raw materials surged to 60.5%, a sharp increase of 10.1 percentage points from July. Prices rose sharply in most sectors, with pharmaceuticals, food processing, and wood products seeing the largest increases. Only the petroleum refining industry reported a slight decrease in raw material costs. Finally, some companies noted that extreme weather events had disrupted supply chains, particularly affecting railway transport in certain regions. This made it more difficult for businesses to acquire necessary materials, adding to the challenges faced by the manufacturing sector during this period.

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