Since the pandemic of 2019, global manufacturing industry took a severe hit. As a major manufacturing country, China also rolled along with the avalanche. However, with China has opened related policies, the Chinese manufacturing PMI in June 2022 rose to 50.2 which is above the threshold.
In June 2022, PMI of Chinese manufacturing industry finally got warm again after a cold spell and rose 0.6 from the previous number of 49.6 in May. PMI officially passing the 50.0 threshold makes it inspiring to businesses and employees in the industry.
As for sub-items of the index, many numbers also rose alongside with the major number. In terms of enterprise scale, the PMI indexes of enterprises in all sizes were all above 50.0 except small enterprises which was 48.6, but it still was up 1.9% from the previous month.
In terms of the production index (52.8), the new order index (50.4), the raw material index (48.1) and the employment index (48.7), they are all in increase. Yet worth noticing, all indexes were in a small amount of increase and oscillated up and down the threshold.
Moreover, some crucial obstacles appear to be tough in the manufacturing industry still bewilder companies. Obstacles such as extension of supply chain, the shortage of raw materials and many other factors still cast a pall over the industry. But no need to be alarmed, with PMI passing the 50.0 and open policies of China, the rebound surely means a lot to many of us.