The CMI index increased by 14.03% year-on-year, and the domestic construction machinery market was generally stable in August

China construction machinery market in August 2024

In August 2024, the China construction machinery market index (CMI) was 95.16, an increase of 14.03%, and a decrease of 0.29% from the previous month (according to the CMI judgment standard, the index value in August was lower than the contraction value, and the market entered the annual cyclical off-season in the short term).

The CMI index in August increased by 2.69 percentage points year-on-year, and the month-on-month decline narrowed by 4.32 percentage points, indicating that after August, most domestic markets continued the recovery trend in July and continued to show varying degrees of year-on-year improvement, but the new machine sales order volume in the terminal first-line market was weaker than last month. Although the situation of upstream funds has eased since August, due to the intensification of rainfall in Northeast, North, East and South China, the overall first-line market demand has not significantly improved, and the short-term recovery process of the domestic market has further accelerated and warmed up, and it needs to be continuously observed.

As of August 26, according to the author's grassroots research and cross-analysis of industries closely related to the downstream, it is understood that the operating rates of Northeast, North, East, South, Central, northwest and Southwest are 53.85%, 49.49%, 47.58%, 50.31%, 52.25%, 54.30% and 56.16%, respectively. Compared with the previous period (August 16), it increased by -1.15, -1.09, -0.21, -0.80, 2.95, 4.13 and 0.16 percentage points respectively. Compared with late July and early August, the operating rate in most major regions remained stable.

In the CMI index, the inventory index for manufacturers decreased by 0.03 percentage points compared with the previous period, and the production index increased by 8.15%. The new order index for the agent group increased by 7.28% year-on-year, increased by 5.41% month-on-month, and the channel inventory index decreased by 5.10 percentage points compared with the previous period; The user price index for the first tier of the market decreased by 12.62% year-on-year.