The supply index of China's manufacturing industry was first released, with a year-on-year increase of 33% in February

recentlyJointly prepared by Shanghai Industrial Transformation and Development Research Institute and Shanghai Steel Union E-commerce Co., LtdThe Mysteel Manufacturing Industry Supply Index of China (MMSI) has been released for the first time.

This index is based onIn January 2014, there were 100 sample data points covering 11 terminal manufacturing industries including steel, coal, non-ferrous metals, petroleum, chemical, building materials, construction, automotive, home appliances, shipbuilding, and engineering machinery. The aim was to quantitatively monitor the overall operation of China's manufacturing supply market, reflect the supply trends and industry prosperity of China's manufacturing industry.

according toAccording to Mysteel's research data, the supply index of China's manufacturing industry in February 2017 was 92.67 points（The starting point isJanuary 2014 at 100 o'clock)Year-on-year increase23.22 points, an increase of 33.44%;Month on month decline8.09 points, a decrease of 8.03%.

Compared to the same period last year,Among the 11 sub industry supply indices, the steel supply index showed the largest year-on-year increase, reaching 85.03%;The building materials supply index has the largest year-on-year decline-25.98%。

On a month on month basis,The supply indices of all 11 sub industries have decreased, with the steel supply index showing the smallest decline at -2.4%;The decline in the shipbuilding supply index is the most significant-11.75%。

From the annual average,The average manufacturing supply index was 106.1 points in 2014, 96.62 points in 2015, down 11.3 per cent year-on-year, and 97.79 points in 2016, up 3.4 per cent year-on-year.

From January to February 2017, the index showed a seasonal decline, but the overall upward trend has not changed.

According to reports, the supply index is compiled on the basis of systematically tracking the supply process of China's manufacturing industry, and the sample industry output value collected accounts for more than the proportion of the national industrial output value.50%. The index trend is basically in line with the PPI, with a correlation coefficient of 0.97.

However,"The PPI reflects an index of the trend and degree of change in the ex-factory prices of industrial products, while the supply index is mainly a combination of indicators in the supply process of the industry, such as production, orders and prices." Ren Zhuqian, technical director of the Transformation Index Institute of Shanghai Industrial Transformation and Development Research Institute, said.

Specifically, the index compilation includes the output of industry-related products./The six indicators of operating rate, price, inventory, orders, profitability and employees, combined with the sample weights of sub-industries, introduced the sub-industry index, and comprehensively considered the weight of each sub-industry in the manufacturing industry to industrial output value, and finally synthesized the China manufacturing supply index.

After the first release of the index, the future monthlyOn the 21st, it was released on the official website and public number of the Shanghai Institute of Industrial Transformation and Development, and the two sides jointly held an annual release and analysis meeting every year.

（Source: Machine Economy Network  Editor of this website）