In November, the Manufacturing Purchasing Managers' Index (PMI) remained stable at 55.2%, showing no change from the previous month. Notably, the textile, apparel, footwear, and fur and feather products industries stood out for maintaining both new orders and production indices at a high level. According to Cai Jin, Vice President of the China Federation of Logistics and Purchasing and Director of the China Logistics Information Center, these sectors made the most significant contribution to the overall PMI performance.
While the overall manufacturing PMI slightly declined this month, it remained generally stable. The stability in the new orders index is particularly encouraging. Among the 20 major industries, over 60% showed positive trends, with the textile, clothing, footwear, and fur and feather products sectors leading the way. Similarly, the production index remained steady, with six key industries, including apparel, footwear, and fur products, performing well.
This strong demand for winter-related goods—such as coats, boots, and down jackets—has driven up both the new orders and production indices in these sectors, contributing significantly to the overall PMI. The cold weather and the seasonal shift have clearly boosted sales, and economic recovery is also playing a role. For example, in shopping malls near Chongqing Road, sales of cotton shoes, leather goods, and down jackets have seen a surge.
A well-known leather brand reported that its daily sales in November increased nearly eight times compared to the previous period. Footwear sections saw a 30% rise in sales, while down jacket counters experienced a six to sevenfold increase. A mall manager near Chongqing Road noted that sales of winter clothing, including cotton suits, leather garments, and cashmere sweaters, also rose sharply.
November marks the peak of the winter season in the northeast, where people are transitioning from autumn to winter, driving demand for warm clothing. Additionally, year-on-year sales growth reflects an improving economy and stronger consumer spending power during the colder months.
The PMI index is crucial for predicting economic trends. Zhang Liqun, an expert from the State Council Development Research Center, emphasized that the PMI serves as a key indicator of economic recovery and can forecast future economic growth. Internationally, a PMI above 50% signals expansion, while below 50% indicates contraction.
Currently, China's PMI has stabilized, suggesting that the economy may be on a more sustainable path to recovery. Jin Zhaohuai, vice president of the School of Economics at Northeast Normal University, noted that the PMI is a leading indicator used by governments, financial institutions, and investors for decision-making. In many countries, the PMI is closely linked to GDP and helps analyze industrial trends.
The PMI is calculated using five key components: new orders (30%), production (25%), employment (20%), supplier deliveries (15%), and inventory (10%). This weighted formula provides a comprehensive view of the manufacturing sector's health.
In November, the sales of down jackets in a mall near Chongqing Road in Changchun increased six to seven times quarter-over-quarter, while leather goods saw an eightfold rise in average daily sales. This clear seasonal impact highlights how demand for winter products can significantly influence economic indicators. With the PMI remaining stable, it appears that the economic recovery is being supported by both seasonal factors and broader market improvements.
The equipment cover is used on some machinery and equipment to prevent dust accumulation due to prolonged idle time. The equipment cover is made of high-quality Canvas fabric, which can achieve wear-resistant, waterproof, and sunscreen effects after process treatment, greatly extending the service life of the equipment.
Large equipment cover, Canvas equipment dust cover, equipment dust cover
Jinan Golden Bull Canvas Textiles Co.,LTd , https://www.jgbct.com