China Export Leading Index down in October 2014

This October, China's Export Leading Index (ELI) reached 41.7, down month-on-month by 1.6 from September. As revealed by an online questionnaire survey, for this October, China's Export Management Index reached 42.9, down by 1.9 from September; its New Export Order Index reached 45.1, down by 2.9 from September, and Export Managers Confidence Index was 48.9, down by 2.0 from September, while Export Enterprises Comprehensive Cost Index reached 24.4, up by 1.2 from September.

1. Fall in the Export Management Indexes of China's small, medium and large enterprises: This October, its small, medium and large enterprises' Export Management Indexes reached 40.3, 40.9 and 45.1 respectively, down by 1.6, 3.4 and 1.0 from September respectively.

2. Less enterprises revealing year-on-year (YOY) rise in their new order value: Shown by the online survey, for this October, the enterprises revealing YOY rise in their new order value accounted for 31.3%, less by 2.7 percentage points than September; the enterprises revealing YOY fall in their new order value accounted for 43.1%, more by 3.1 percentage points than September; and those revealing no change therein accounted for 25.6%.

3. Less enterprises optimistic about their exports in next 2-3 months: Shown by the online survey, the enterprises expressing “optimistic” about their exports in the next 2-3 months accounted for 30.2%, less by 2.2 percentage points than September; and those expressing “not optimistic” thereabout accounted for 33.8%, more by 2.1 percentage points than September.

4. Decrease in the respondents revealing cost rise: Shown by the online survey, the enterprises revealing YOY rise in their export comprehensive cost accounted for 60.7%, less by 1.3 percentage points than September; those revealing YOY evenness therein accounted for 32%; and those revealing YOY fall therein accounted for 7.3%.

According to the survey in itemized costs for October, the enterprises revealing increases in their labor cost and raw materials cost accounted respectively for 64.1% and 43.8%, less than September by 1.5 and 1.8 percentage points respectively; those revealing increase in foreign-exchange cost accounted for 40.4%, slightly more than September by 0.4 percentage point.