Economic recovery, China's footwear industry saw a slight improvement

A few days ago, the China Federation of Logistics and Purchasing issued the China Manufacturing Purchasing Managers' Index in December 2009. The export order index was 52.6%. Although the index fell by 1 percentage point compared with the previous month, the index is in the expansion range, indicating that the space for China's foreign trade exports is shrinking, and the export situation is gradually turning, but the market trend is still unstable.

Looking back at the track of China's PMI index in 2009, the export order index has the following characteristics:

The recovery of export markets has been slow. In 2008, after the outbreak of the financial crisis, it was the same as the Composite Index (PMI). Both the New Order Index and the Export Order Index fell to the trough in November 2008. Driven by the government's “preserving growth” measures, the new orders index (50.4%) reversed in February 2009. The export order index was sluggish until May (50.1%). It shows that under the stimulating of investment in our country's economy, domestic demand has taken the lead in recovering. However, external demand has been slow to recover due to the global economic recession and the sharp drop in demand.

The situation of the external demand market has been slow, the global economy is slowly recovering from the difficulties, and China’s export situation has continued to slowly recover.

The export trend continued. From the trend, the export order index has stood above the critical point for eight consecutive months, indicating that the export market is continuing to rise. From a structural point of view, industries such as the metal products industry, electrical machinery and equipment manufacturing, communications equipment, computers and other electronic equipment, and clothing, footwear, and hats, etc., which have a relatively large export share, have shown steady growth in recent months. In particular, the clothing and footwear manufacturing industry, its export orders index in the first 9 months of 2009 in the 20 industries are basically in the fifth and sixth lowest. Since October, the export orders index has started to rebound, with the index rising to 56.9% in December and ranking fifth in 20 industries. It shows that its industry is gradually emerging from a downturn, and the market recovery has seen a slight improvement.

The export situation is still unstable. On the one hand, the index is unstable. In November and December, the increase in export orders index showed a slight correction, with the correction rates of 0.9 and 1.0 percentage points respectively. On the other hand, the industry structure is not stable. For example, the chemical fiber manufacturing and rubber and plastic products industries were at a low level; after the export orders index for the textile industry (44.2%) and general equipment manufacturing (40%) increased in November, they declined again in December. It shows that the external market conditions are still unstable.