In May 2025, the Purchasing Managers’ Index (PMI) of the manufacturing industry was 49.5%, up 0.5 percentage points from the previous month, and the level of prosperity in the manufacturing industry improved.
From the perspective of enterprise scale, the PMI of large enterprises was 50.7%, up 1.5 percentage points from the previous month, above the critical point; the PMI of medium-sized enterprises was 47.5%, down 1.3 percentage points from the previous month, below the critical point; the PMI of small enterprises was 49.3%, up 0.6 percentage points from the previous month, below the critical point.
From the perspective of classified indexes, among the five classified indexes that constitute the manufacturing PMI, the production index is above the critical point, the supplier delivery time index is at the critical point, and the new order index, raw material inventory index and employee index are all below the critical point.
The production index was 50.7%, up 0.9 percentage points from the previous month, rising above the critical point, indicating that the production activities of manufacturing enterprises have accelerated.
The new order index was 49.8%, up 0.6 percentage points from the previous month, indicating that the prosperity of the manufacturing market demand has rebounded.
The raw material inventory index was 47.4%, up 0.4 percentage points from the previous month, and below the critical point, indicating that the decline in the inventory of major raw materials in the manufacturing industry has narrowed.
The employment index was 48.1%, up 0.2 percentage points from the previous month, indicating that the employment climate of manufacturing enterprises has improved.
The supplier delivery time index was 50.0%, down 0.2 percentage points from the previous month, and at the critical point, indicating that the delivery time of raw material suppliers in the manufacturing industry was basically the same as last month.
