China Export Leading Index Down in May 2016
[2016-07-13]
For May 2016, China's Export Leading Index (ELI) reached 33.1, month-on-month (MOM) down by 0.7 from April, signaling big downward pressure on export in the third quarter. As revealed by an online questionnaire survey, China's May Export Management Index reached 36.3, down by 1.2 MOM; New Export Order Index dropped by 1.8 MOM to 35.5 and Export Managers Confidence Index dropped by 1.4 to 41.1, while Export Enterprises Comprehensive Cost Index rose by 0.8 to 29.1.
1. Fall in the Export Management Indexes of large and small enterprises: For May, China's large and small enterprises made their Export Management Indexes down MOM by 2.3 and 0.7 to 37.3 and 35.1 respectively, while medium enterprises made the index up 0.5 to 35.5.
2. Less enterprises revealing year-on-year (YOY) rise in their new order value: Shown by the online survey for May, the enterprises revealing YOY rise in their new order value accounted for 21.2%, less by 1.2 percentage points than April; the enterprises revealing YOY fall in their new order value accounted for 50.5%, more by 1.4 percentage points than April; and those revealing no change therein accounted for 28.3%.
3. Less enterprises optimistic about export in next 2-3 months: Shown by the online survey, the enterprises expressing "optimistic" accounted for 22%, less by 1.5 percentage points than April; those expressing "not optimistic" accounted for 41.6%, more by 1.0 percentage point than April.
4. Less respondents revealing cost rise: Shown by the online survey, the enterprises revealing YOY rise in their export comprehensive cost accounted for 51.6%, less by 0.7 percentage point than April; those revealing YOY cost evenness accounted for 39.1%; and those revealing YOY cost fall accounted for 9.3%.
According to the survey in itemized costs for May, the enterprises revealing increase in their labor cost accounted for 54.8%, less by 0.5 percentage point than April; those revealing increase in their foreign exchange cost accounted for 31.9%, less by 1.3 percentage points than April; those revealing increase in raw material cost accounted for 37.7%, less by 1.5 percentage points than April.
1. Fall in the Export Management Indexes of large and small enterprises: For May, China's large and small enterprises made their Export Management Indexes down MOM by 2.3 and 0.7 to 37.3 and 35.1 respectively, while medium enterprises made the index up 0.5 to 35.5.
2. Less enterprises revealing year-on-year (YOY) rise in their new order value: Shown by the online survey for May, the enterprises revealing YOY rise in their new order value accounted for 21.2%, less by 1.2 percentage points than April; the enterprises revealing YOY fall in their new order value accounted for 50.5%, more by 1.4 percentage points than April; and those revealing no change therein accounted for 28.3%.
3. Less enterprises optimistic about export in next 2-3 months: Shown by the online survey, the enterprises expressing "optimistic" accounted for 22%, less by 1.5 percentage points than April; those expressing "not optimistic" accounted for 41.6%, more by 1.0 percentage point than April.
4. Less respondents revealing cost rise: Shown by the online survey, the enterprises revealing YOY rise in their export comprehensive cost accounted for 51.6%, less by 0.7 percentage point than April; those revealing YOY cost evenness accounted for 39.1%; and those revealing YOY cost fall accounted for 9.3%.
According to the survey in itemized costs for May, the enterprises revealing increase in their labor cost accounted for 54.8%, less by 0.5 percentage point than April; those revealing increase in their foreign exchange cost accounted for 31.9%, less by 1.3 percentage points than April; those revealing increase in raw material cost accounted for 37.7%, less by 1.5 percentage points than April.
Source: China Customs
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