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. After three consecutive months of decline, the index rebounded and stayed above the 50% threshold, signaling continued growth in China’s manufacturing sector. This suggests that the manufacturing economy remained on a positive trajectory despite earlier challenges. Among the five sub-indices that make up the PMI, three—production, new orders, and supplier delivery time—rose in August, while the raw material inventory and employment indices saw slight declines. The production index stood at 53.1%, up 0.4 percentage points from July. This marks the 19th consecutive month where the index has remained above 50%, reflecting sustained growth in manufacturing output. Looking at industry-specific data, several sectors experienced notable increases in production, including beverage manufacturing, metal products, petroleum processing, and food processing. Meanwhile, ferrous and non-ferrous metal smelting industries saw a recovery after two months of decline. However, some industries such as chemical fiber, rubber and plastic, pharmaceuticals, and transportation equipment continued to operate below the 50% threshold, indicating ongoing production slowdowns. Large and medium-sized enterprises maintained strong performance, with their production indexes remaining above the critical level. In contrast, small-scale enterprises reported a drop below 50%, signaling weaker activity. The new orders index rose sharply to 53.1%, up 2.2 percentage points from the prior month, suggesting increased demand across the manufacturing sector. Sectors like agricultural and non-staple food processing, petroleum refining, and special equipment manufacturing saw rising order volumes. However, the textile and chemical fiber industries, along with rubber and plastic manufacturing, remained below the threshold for two consecutive months, pointing to weak market demand. The export order index was recorded at 52.2%, up 1.0 percentage point from the previous month, showing improved international demand. The main raw material inventory index fell slightly to 47.3%, continuing its downward trend for the third consecutive month. Companies reduced purchases due to rising raw material prices, relying more on existing stock to meet production needs. Industries such as non-metallic minerals, chemical fibers, and rubber and plastics saw significant inventory reductions. The employment index dropped slightly to 51.7%, down 0.5 percentage points from July. Despite this, it remained above the 50% threshold for six consecutive months, indicating steady labor demand. Metal products and food processing industries reported higher employment levels, while the textile and related sectors saw a decline in workforce numbers. The supplier delivery time index improved to 50.7%, up 0.8 percentage points from the previous month, indicating faster deliveries from suppliers. The purchase price index for major raw materials surged to 60.5%, a sharp increase of 10.1 percentage points from July. Only the petroleum refining and coking industry saw a decrease in input costs. Other industries experienced significant price hikes, with pharmaceuticals, food processing, and wood and furniture manufacturing reporting purchase price indices above 70%. Prices for ferrous metals and chemical fibers also rebounded after a period of decline. Finally, some companies reported supply chain disruptions due to extreme weather events, causing transportation bottlenecks and making it harder to secure raw materials.

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