Logistics Information Center: Economic situation steady inflation pressure has rebounded

The current economic and economic growth situation in China is basically stable inflation pressure has rebounded--from January PMI look at the Economic Development China Logistics Information Center in January 2011, China's Logistics and Procurement Association issued a Chinese manufacturing Purchasing Managers Index (PMI) of 52.9%, the chain fell 1%.　　From the index level, still remain above the multi-year average level, showing that the current economic growth situation is basically stable. From the point of view of the various indices, the overall appearance of a drop in trend. In comparison with last month, the volume index, import index, purchase price index and raw material inventory index rose, with import indices and purchase price indices rising by more than 2%; the remaining indices fell in varying degrees.　　Among them, the production index, the new export Order index, the backlog order index, the employee index fell more than 2%, especially the backlog order index fell most significantly, fell 4.2%. From the trend of PMI index, the current economic development presents the following characteristics: First, production growth continues to slow down. The production index of 55.3% this month, down 2.2% from last month, has fallen by 1.2% from last month, indicating a continuing slowdown in current production growth. In terms of industry, some industries with equipment manufacturing industry continue to maintain rapid growth. At the same time, due to the spring festival approaching, the holiday effect of early release, with the consumer closely related to food, beverage, tobacco manufacturing, production is also significantly accelerated.　　But in other industries, mainly in the textile industry, furniture manufacturing, glass and cement and other non-metallic mineral products industry, the production growth has fallen considerably. Second, domestic demand tends to be stable. The New Order index of 54.9% this month, down only 0.5% from last month, shows that the current domestic demand is basically stable.　　At present, the demand for consumer goods is more vigorous, the demand for general production and intermediate goods slows down, and the demand for raw materials and energy continues to decline. Third, inflationary pressures have rebounded. The price index for the manufacturing sector, which was 69.3% this month, rebounded 2.6% per cent from last month, reflecting the still greater pressure on China to control inflation this year. From the industry point of view, generally higher, the vast majority of industries to buy the price index to maintain more than 60%. Prices rose sharply this month, mainly driven by rising food prices. The purchase price index of agri-food industry and foodstuff industry rose to more than 70%, up more than 7%.　　The prices of products closely related to energy and resources remain high, and the price indices of petroleum processing, steel smelting and processing are kept above 80%.　　The recent PMI index reflects the following signs of economic growth: first, industrial production, growth is stabilizing or rebounding, structural differences are widening. This month, the index of production accelerated to fall, indicating the late fall in space. In the last two months, due to the continuous decline in production growth, finished goods inventory was significantly reduced. The Finished goods inventory index for the month was 47.9%, down 0.8% from last month, a more pronounced month since last October, indicating that the companyGo to the inventory process faster, later will increase the replenishment requirements. At the same time, from the procurement index, raw material inventory index, the rise is also more obvious this month, reflecting the production enterprises are also in order to speed up the production of early preparation. Structural differences in the industrial sector will widen further.　　The main performance is that in the process of speeding up the upgrading of traditional manufacturing industry and the development of new strategic industries, the development of equipment manufacturing industry will continue to accelerate; the production of energy and raw materials continues to slow down, influenced by the adjustment of industrial structure and energy saving and emission reduction. Second, from the perspective of international trade, export growth momentum is insufficient, imports are rising trend. The recent rise in import indices and the downward trend in the new export orders index are more pronounced.　　The import index was 53% this month, up 2.6% from last month, and the new export order index fell to just over 50% from 53.5% last month. From the PMI point of view, the current economic development process, the following aspects are noteworthy: first, prices are easy to go down, the current inflationary pressure is greater.　　From the purchase price index, the current price increases with the upstream and downstream linkage transmission fast, and so on, and so on, in order to control inflation increased difficulties. Second, the employees showed a significant decline. The index fell markedly faster this month, from 51.5% to 49% last month, down 2.5%. This is the first time since May 2009 to fall below 50%, reflecting the apparent downward trend of practitioners.　　From the survey, the current decline in practitioners, mainly by the employment of the leadership, with the spring festival approaching, some areas of workers return, leading to a number of enterprises "labor shortage" of the situation became increasingly obvious. Third, the recent textile industry, furniture manufacturing, glass and cement and other non-metallic mineral products industry production growth decline in large. These industries and real estate related to a higher level, in the country continue to strengthen the real estate control background, may reflect the current situation of real estate development worries rising. The late real estate market trend is worthy of close attention.