On August 31st, the Service Industry Survey Center of the National Bureau of Statistics and the China Federation of Logistics and Purchasing released data showing that in August, the Purchasing Managers' Index, Non Manufacturing Business Activity Index, and Comprehensive PMI Output Index of the manufacturing industry were 49.4%, 50.3%, and 50.5%, respectively, up 0.1 percentage points, 0.2 percentage points, and 0.3 percentage points from July. All three indices have rebounded, and the overall level of China's economic prosperity continues to expand. Zhang Liqun, a special analyst at the China Federation of Logistics and Purchasing, told reporters that the manufacturing PMI index slightly rebounded in August, indicating that the effects of policies such as expanding domestic demand and "anti internal competition" have begun to emerge. The manufacturing PMI index has slightly rebounded, and data shows that in August, the manufacturing PMI rose to 49.4%, indicating an improvement in the economic situation compared to July. Among them, both the production and demand indices have rebounded. The production index was 50.8%, an increase of 0.3 percentage points from July, and remained above the critical point for four consecutive months, indicating an accelerated expansion of manufacturing production; The new order index is 49.5%, up 0.1 percentage points from July. Zhao Qinghe, senior statistician at the Service Industry Survey Center of the National Bureau of Statistics, explained that from an industry perspective, the production index and new order index of industries such as pharmaceuticals, computer communication and electronic equipment are significantly higher than the overall manufacturing industry, indicating a faster release of production and demand; The two indices of industries such as textile and clothing, wood processing and furniture, chemical raw materials and chemical products are all below the critical point, indicating a shortage of production and demand. Driven by the recovery of manufacturing production, the procurement activities of enterprises have accelerated recently, with the procurement volume index rising to 50.4%. It is worth noting that the price index has continued to rise. The main raw material purchase price index and factory price index were 53.3% and 49.1%, respectively, up 1.8 percentage points and 0.8 percentage points from July, and have rebounded for three consecutive months. The overall price level of the manufacturing market continues to improve. China Logistics Information Center analyst Wen Tao told reporters that the market price index has risen in tandem, driven by an increase in raw material procurement and a stabilization of market demand. The procurement volume index is 50.4%, up 0.9 percentage points from July; On the other hand, there is also a manifestation of the effectiveness of rectifying the "involution" competition policy. In the long run, the rectification of the "involution" competition policy will continuously optimize the market competition order, alleviate supply-demand contradictions, and support price operation in a virtuous cycle. By industry, the PMI for high-tech manufacturing and equipment manufacturing were 51.9% and 50.5%, respectively, an increase of 1.3 percentage points and 0.2 percentage points from July, indicating a continued strengthening of their supporting and leading role; The PMI for the consumer goods industry was 49.2%, a decrease of 0.3 percentage points from July; The PMI for high energy consuming industries was 48.2%, an increase of 0.2 percentage points from July, indicating a continuous recovery in economic activity. In Wentao's view, there were positive changes in all four major industries of manufacturing in August. In terms of new driving forces, driven by the continuous promotion of the "dual" construction and large-scale equipment updates policies, the equipment manufacturing industry is steadily accelerating its expansion. As the start of the school year approaches, the manufacturing industry of computer communication and electronic equipment is entering a peak season for production and sales, providing strong support for the accelerated expansion of high-tech manufacturing. In terms of traditional industries, the operation of the basic raw materials industry has stabilized, with the PMI of the basic raw materials industry increasing compared to July, and both supply and demand indices have increased compared to July. Although the PMI of the consumer goods manufacturing industry has decreased compared to July, the production index remains in the expansion range, indicating that the demand in the consumer goods market has stabilized. Zhao Qinghe stated that the overall market expectation is positive. The expected index of production and operation activities is 53.7%, an increase of 1.1 percentage points from July, and has rebounded for two consecutive months, indicating that most manufacturing enterprises have increased confidence in the future market. The non manufacturing sector continues to expand. Data shows that in August, the non manufacturing business activity index was 50.3%, an increase of 0.2 percentage points from July, indicating that the non manufacturing sector continues to expand. He Hui, Vice President of the China Federation of Logistics and Purchasing, told reporters that in August, the business activity index slightly increased compared to July, indicating that the supply and demand of non manufacturing industries, as well as upstream and downstream prices, are showing signs of stabilization. Enterprise expectations are improving, and the overall operation of non manufacturing industries remains stable. Among them, the prosperity level of the service industry has significantly rebounded. The service industry business activity index was 50.5%, up 0.5 percentage points from July and reaching a high point for the year. From the perspective of market expectations, the business activity expectation index is 57.0%, an increase of 0.4 percentage points from July, indicating that service industry enterprises are optimistic about the recent market development prospects. The index of business activities in the construction industry has fallen. Affected by unfavorable factors such as recent hot and rainy weather, the production and construction of the construction industry have slowed down, and the business activity index is 49.1%, a decrease of 1.5 percentage points from July. From the perspective of market expectations, the business activity expectation index is 51.7%, slightly higher than 0.1 percentage points in July. According to Wu Wei, an analyst at the China Logistics Information Center, overall, non manufacturing business activities have continued to expand, demand decline has narrowed, upstream and downstream price trends have remained relatively stable, financial support for the real economy has played a stable role, and consumer spending and new energy related industries have shown good performance. It is expected that in September and the fourth quarter, under the influence of policy driven and market self-healing, the potential of domestic demand will continue to be released. We need to continue to cultivate effective demand increment on the basis of stable demand stock and enhance the endogenous driving force of economic growth. (New Society)