Research on the correlation between producer services and manufacturing industry in Hubei Province based on input-output model

Producer service industry is the most dynamic sector in the service industry, and its development speed has exceeded that of manufacturing industry. There is a close relationship between manufacturing industry and producer services, and the added value of manufacturing industry mainly comes from producer services. As for the relationship between producer services and manufacturing industry, many scholars have applied the input-output analysis method. Since the structural transformation and upgrading of manufacturing industry is a long-term process, and different stages of economic development and different environmental factors may make manufacturing industry and producer service industry reflect different mutual relations, it is difficult to accurately judge the dynamic relationship between producer service industry and manufacturing industry in the input-output table of a single year. By using the input-output model, this study compared the input-output table of Hubei Province in 2012 and 2017, carried out big data analysis, and calculated four indicators of direct consumption coefficient, complete consumption coefficient, influence coefficient and induction coefficient respectively in the two years, with a view to studying the correlation and changes between producer services and manufacturing industries in Hubei Province over a long period of time. Grasp the influence and time evolution of major industrial sectors on regional economic development in Hubei province as a whole. The research results show that the correlation effect between producer services and manufacturing industry in Hubei Province is not obvious. The development level of manufacturing industry is high, but the development level of producer services is low. The low correlation between the two industries affects the sustainable economic development of Hubei Province, and it is necessary to strengthen the correlation degree to improve the transformation and upgrading of manufacturing industry in Hubei Province.