China Export Leading Index Still Down in July 2015
[2015-08-10 13:56:55]
For this July, China's Export Leading Index (ELI) reached 34.1, month-on-month down by 0.7 from this June, straight 5-month decline suggesting the export will be still hard for the third quarter this year. As revealed by an online questionnaire survey, this July, China's Export Management Index reached 36.6, up by 0.1 from June; its New Export Order Index fell by 0.4 to 35.8, while Export Managers Confidence Index and Export Enterprises Comprehensive Cost Index respectively rose by 0.1 and 1.3 to 42.3 and 27.7.
1. Fall in the Export Management Index of small enterprises: For July, China's large and medium enterprises made their Export Management Indexes respectively up by 0.3 and 0.5 month-on-month to 38.5 and 35.4 while the index of small enterprises slid by 1.5 month-on-month to 33.2.
2. Less enterprises revealing year-on-year (YOY) rise in their new order value: Shown by the online survey, for July, the enterprises revealing YOY rise in their new order value accounted for 21.7%, less by 0.3 percentage point than June; the enterprises revealing YOY fall in their new order value accounted for 51.9%, more by 1.1 percentage points than June; and those revealing no change therein accounted for 26.4%.
3. More divided in enterprise optimism about export in next 2-3 months: Shown by the online survey, the enterprises expressing "optimistic" thereabout accounted for 23.6%, more by 0.1 percentage point than June; those expressing "not optimistic"thereabout accounted for 41.7%, more by 0.5 percentage point than June.
4. More respondents revealing labor cost rise: Shown by the online survey, the enterprises revealing YOY rise in their export comprehensive cost accounted for 54.5%, less by 1.2 percentage points than June; those revealing YOY evenness therein accounted for 37.2%; and those revealing YOY fall therein accounted for 8.3%.
According to the survey in itemized costs for July, the enterprises revealing increase in their labor cost accounted for 59.1%, more by 0.4 percentage point than June; those revealing increase in their raw-material cost accounted for 35.9%, less by 1.0 percentage point than June; and those revealing increase in their foreign-exchange cost accounted for 31.2%, less by 1.9 percentage points than June.
1. Fall in the Export Management Index of small enterprises: For July, China's large and medium enterprises made their Export Management Indexes respectively up by 0.3 and 0.5 month-on-month to 38.5 and 35.4 while the index of small enterprises slid by 1.5 month-on-month to 33.2.
2. Less enterprises revealing year-on-year (YOY) rise in their new order value: Shown by the online survey, for July, the enterprises revealing YOY rise in their new order value accounted for 21.7%, less by 0.3 percentage point than June; the enterprises revealing YOY fall in their new order value accounted for 51.9%, more by 1.1 percentage points than June; and those revealing no change therein accounted for 26.4%.
3. More divided in enterprise optimism about export in next 2-3 months: Shown by the online survey, the enterprises expressing "optimistic" thereabout accounted for 23.6%, more by 0.1 percentage point than June; those expressing "not optimistic"thereabout accounted for 41.7%, more by 0.5 percentage point than June.
4. More respondents revealing labor cost rise: Shown by the online survey, the enterprises revealing YOY rise in their export comprehensive cost accounted for 54.5%, less by 1.2 percentage points than June; those revealing YOY evenness therein accounted for 37.2%; and those revealing YOY fall therein accounted for 8.3%.
According to the survey in itemized costs for July, the enterprises revealing increase in their labor cost accounted for 59.1%, more by 0.4 percentage point than June; those revealing increase in their raw-material cost accounted for 35.9%, less by 1.0 percentage point than June; and those revealing increase in their foreign-exchange cost accounted for 31.2%, less by 1.9 percentage points than June.
Source: ETCN
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