The overall level of economic sentiment fell in March

2022-07-19 0 By

Workers’ Daily, Beijing, March 31 (reporter Shi Lanna) Today, the National Bureau of Statistics released China’s purchasing managers index in March operation data.Data showed that in March, the manufacturing purchasing managers index, non-manufacturing business activity index and composite PMI output index were 49.5%, 48.4% and 48.8% respectively, lower than 0.7, 3.2 and 2.4 percentage points in the previous month. The three indexes all fell below the critical point, indicating that the overall economic prosperity level of China has dropped.An official with the Service Industry Survey Center of the National Bureau of Statistics (NBS) said that the recent outbreak of COVID-19 in many places in China and the significant increase in geopolitical instability in the world have affected the production and business activities of Chinese enterprises to some extent.Survey companies said that with the epidemic under effective control in some areas, suppressed production and demand will gradually recover and the market is expected to pick up, and most of them are still confident about the market development.In the manufacturing sector, due to the impact of the epidemic, some enterprises in some regions have temporarily cut production and stopped production, which has affected the normal production and operation of upstream and downstream enterprises. Some enterprises’ export orders have been reduced or cancelled, and both the production index and new order index have dropped to the contraction range, with both production and demand falling simultaneously.At the same time, due to the recent fluctuations of international commodity prices and other factors, the purchasing price index and producer price index of major raw materials rose to the highest level in nearly five months, and the price index continued to rise.In addition, some surveyed enterprises reported that the stability of the manufacturing supply chain has been affected to some extent due to insufficient personnel attendance, poor logistics and transportation, and prolonged delivery cycle due to the epidemic.In terms of non-manufacturing sectors, the service sector has been significantly affected by the epidemic, with market activity weakening, while railway transport, air transport, accommodation, catering and other contact and cluster industries have been significantly affected by the epidemic.With the warming of the climate, the construction industry has accelerated the construction progress, the business activity index rose 0.5 percentage points compared with last month, the economic level rose slightly, enterprises are still relatively optimistic about the development prospects of the industry.Disclaimer: This article is reproduced for the purpose of passing on more information.If the source is wrong or violated your legitimate rights and interests, please contact the author with proof of ownership, we will promptly correct, delete, thank you.Email address: