| PMI of Timber & Furniture Manufacturing Industry is close to 50% in Oct. |
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time:2008-11-13 Hits:
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According to the up-dated statistics released by China Federation of Logistics & Purchasing, the PMI reduced to 44.6 from 51.2 of the previous month. PMI is one of the index measuring the status of the States manufacturing industry, by which it shows an increase of the industry if above 50.0, while below 50.0 it means the depression. During July to August. the PMI was once below 50.5, however in September, it rebounded to 51.2.
It is estimated by experts that the growth of Chinas economy will continue to slow down basing on the relative change from September to October. From 11 indexes in October, there was only 1 indicating growth, and 1 reamining the same, and the rest 9 all falling. In addtion. the newly-added orderings reduced to 41.4 from 48.8 of the previous month, and the price index of buy-in reduced from 44.7 to 32.3. Among about 20 industries, the PMI of 3 industries(soft-drink, timber& furniture manufacturing and chemical fiber & rubber & plastic) are at the critical point of 50%, the rest are all below.
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