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Rapport d'index GGSC-CN (Avril 2021)

In April 2022, affected by short-term factors such as the spread of the COVID-19 in many places and the conflict between Russia and Ukraine, the logistics and employment of the manufacturing industry has been affected seriously, the price of materials continues to rise, and the growth rate of the middle and upstream industries has dropped significantly.This month, China's PMI index registered 47.4%, a decrease of 2.1 percentage points from the previous month, ranking the lowest level since March 2020, and the downward pressure on the economy has increased. In this context, the timber manufacturing industry has been impacted, with reduced orders, poor logistics and a significant increase in freight. The GGSC-CN comprehensive index for April registered 40.0% ( 71.1% for last April  and 60.4% for April  2020), a decrease of 4.6 percentage points from the previous month, and was below the critical value of 50% for two months. It shows that the operation of the superior forest products enterprises represented by GGSC-CN index shrink from last month. See Figure 1 for more details.


Figure 1 GGSC-CN index trend from May 2021 to April 2022 

Challenges

Ø COVID-19 has repeatedly appeared, the trans provincial transportation is inconvenient, and the transportation cost is high.

Ø The overall freight rate has increased significantly.

Products in short supply

None.

Commodity of which the price has been increased

Methanol, melamine, paraffin, waterproof agent and other chemical raw materials.

Commodity of which the price has been decreased

Miscellaneous firewood, Eucalyptus firewood, pine firewood, Core board, Eucalyptus log, melamine, urea.



As for the GGSC-CN index, in April 2022, three sub-indexes of GGSC-CN keep flat, two decrease.

The production index registered 41.7%, a decrease of 8.3 percentage points from the previous month. It shows that the production of superior forest products enterprises represented by GGSC CN is almost same as that of last month.

The new order index registered 25.0%, a decrease of 8.3 percentage points from the previous month, reflecting the ability of enterprises to obtain orders is worse than last month.Among them, the new export order index reflecting international trade registered 25.0%, same as the previous month, and being below the critical value of 50% for seven months, showing that orders from abroad this month is decreased from last month.

The main raw material inventory index registered 58.3%, same as the previous month. It shows that the raw material inventory of the superior forest products enterprises is more than that of last month.

The employment index registered 50.0%, same as the previous month. It shows that the employment of the superior forest products enterprises is almost same as that of last month. 

The supplier delivery time index was 41.7%, same as the previous month. It indicates that the supply time of raw material suppliers of the superior forest product enterprises is much more slowly than last month.


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