The National Bureau of Statistics (NBS) started to release its composite Purchase Management Index（PMI） output on a monthly basis this month. China's composite PMI output index for January stood at 54.6 percent, according to the latest news on the NBS official website.
At present, the PMI for the manufacturing industry and the business activity index for the non-manufacturing industry, which are compiled and published monthly by NBS, reflect the cycle of the economy from the manufacturing and non-manufacturing sectors respectively.
The compilation and publishing of the composite PMI output index not only provides a new perspective for monitoring the macro-economy economic output but also further enrich and improve the PMI index system in China.
“We have analyzed and studied the performance of the composite PMI output index. The results have shown that the overall trend of the index has been stable from January 2016 to December 2017, which is in line with the trend of the economic development in China for the same period. " said the head of the service survey center of NBS.
The same as the other indexes in the PMI index system, the composite PMI output index takes 50% as the demarcation point. When above 50%, it shows the overall economy is expanding; when below 50%, it indicates the overall economy is contracting.
According to the head of the service survey center, the composite PMI output index is a composite index which reflects the output change of the whole industry (including manufacturing and non-manufacturing sectors) and owns its unique advantages in international comparability.
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