The PMI for the construction sector stood at 49.93 in June 2023, down 0.43 point on a monthly basis but up 0.87 point on a yearly basis. Seasonally adjusted, the composite index stood at 49.43 points, up 1.55 points month on month and up 0.57 point year on year. The index for production was 49.23, down 0.3 point on a monthly basis but up 1.06 points on a yearly basis, and that for new orders fell 1.06 points month-on-month but rose 0.89 point year-on-year to 50.12.
The average days of raw material inventories stood at 10.23 days, flat from the previous month. (The number of days of raw material inventories is for reference only as the survey sample may have changed).
The construction industry as a whole weakened this month, and project construction progress slowed down due to high temperatures and rains. Some enterprises rushed to work due to construction schedule requirements. The number of new orders increased slightly from the previous month, and most of them were installation projects. In addition, most enterprises suffered cash flow issues, and the procurement of raw materials by enterprises was mainly on demand. Some enterprises increased their purchases in preparation for new projects.
