The official NBS Manufacturing PMI for China stood at 51.0 in August 2020, little-changed from 51.1 in the previous month and compared to market consensus of 51.2, pointing to the sixth straight month of increase in factory activity as the economy continued to recover from the COVID-19 shock. Output (53.5 vs 54.0 in July) and new orders (52.0 vs 51.7) continued to grow, while declines were seen in export sales (49.1 vs 48.4) and employment (49.4 vs 49.3). Also, suppliers' delivery time was stable (at 50.4). On the price front, input cost advanced for the fourth month running (58.3 vs 58.1), while selling prices rose for the third consecutive month (53.2 vs 52.2). Looking ahead, business sentiment strengthened (58.6 vs 57.8).
Business Confidence in China averaged 51.65 points from 2005 until 2020, reaching an all time high of 59.20 points in April of 2008 and a record low of 35.70 points in February of 2020. This page provides - China Business Confidence - actual values, historical data, forecast, chart, statistics, economic calendar and news. China NBS Manufacturing PMI - data, historical chart, forecasts and calendar of releases - was last updated on September of 2020. source: National Bureau of Statistics of China
Business Confidence in China is expected to be 51.10 points by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate Business Confidence in China to stand at 51.70 in 12 months time. In the long-term, the China NBS Manufacturing PMI is projected to trend around 52.00 points in 2021 and 51.00 points in 2022, according to our econometric models.