1 March 2016
Guangdong Manufacturing PMI (2016/02)
Guangdong Manufacturing PMI dropped 0.6 % point to 48.2 in February 2016. The indexes of output and new orders dropped below the 50-mark to 46.8 and 47.7 respectively, indicating that Guangdong’s manufacturing enterprises are facing further downward pressure on production and sales. Meanwhile, the indexes of raw material inventories, employment and supplier deliveries went up in the month, which might be a result of labour holiday and rising retail demand during the Chinese New Year period.
Note: The Guangdong manufacturing PMI is a composite index based on the diffusion indexes for the five major components: output, new orders, raw material inventories, employment, supplier delivery times. A PMI reading above 50 indicates that the manufacturing economy is generally expanding; below 50 indicates that it is generally declining.