In May, Guangzhou’s manufacture PMI was 51.3, which was 1.6 percentage points lower than that in the previous month though still above the critical value 50, said the Industry and Information Technology Commission of Guangzhou Municipality on its official website (gzii.gov.cn).

 

Three of the five weighted classification indexes were above the critical value 50, while the other two below the value. And all five indexes fell to certain degree in comparison with those in the previous month.

 

Despite of the decline of PMI in May, Guangzhou’s manufacture still keeps a moderate growth trend, said Dr. Yin Tao, research fellow and vice president of Guangzhou Academy of Social Sciences and the appointed expert for interpreting the PMI. In particular, the index for the backlog of orders exceeded 50.0 for the first time since last June; the purchasing price index did the same since last September; and raw material stock and purchase increased comparing with those in the previous month, reflecting the shift toward an optimistic market environment.

 

Comprehensively speaking, with the steady progress of macro-economic situation, Guangzhou’s manufacture will have a moderate growth, Yin continued. Next, we’ll guide manufacturers to consolidate the achievements in reducing stock, strengthen product structure adjustment and boost industrial economy to have a rapid development through transformation and upgrading.

 

Source: Guangzhou Daily, May 4, 2015