China Export Leading Index Even between Aug and Sept 2015

For September 2015, China's Export Leading Index (ELI) reached 34.0, month-on-month even with August, suggesting a pause of 6 consecutive months of decline. As revealed by an online questionnaire survey, in September, China's Export Management Index reached 33.7, down by 0.3 month-on-month; New Export Order Index fell by 0.6 to 32.7, while Export Enterprises Comprehensive Cost Index rose by 0.1 to 28.5 and Export Managers Confidence Index rose by 0.1 to 37.9.

1. Fall in the Export Management Indexes of enterprises: For September, China's large, medium and small enterprises made their Export Management Indexes down by 0.1, 0.3 and 0.8 to 35.5, 31.4 and 32.7 respectively.
2. Less enterprises revealing year-on-year (YOY) rise in their new order value: Shown by the online survey, for September, the enterprises revealing YOY rise in their new order value accounted for 19.8%, less by 1.0 percentage point than August; the enterprises revealing YOY fall in their new order value accounted for 55.2%, more by 0.6 percentage point than August; and those revealing no change therein accounted for 25.0%.

3. More enterprises optimistic about export in next 2-3 months: Shown by the online survey, the enterprises expressing “optimistic” accounted for 20.8%, more by 0.3 percentage point than August; those expressing “not optimistic” accounted for 46.5%, more by 0.4 percentage point than August.

4. Less respondents revealing cost rise: Shown by the online survey, the enterprises revealing YOY rise in their export comprehensive cost accounted for 53.7%, less by 0.3 percentage point than August; those revealing YOY evenness therein accounted for 36.4%; and those revealing YOY fall therein accounted for 9.9%.

According to the survey in itemized costs for September, the enterprises revealing increase in their labor cost accounted for 59.2%, less by 1.3 percentage points than August; those revealing increase in their raw material cost accounted for 37.4%, less by 0.7 percentage point than August; those revealing increase in foreign exchange cost accounted for 34.1%, more by 0.7 percentage point than August, however.