The Official NBS Manufacturing PMI in China fell to 49.4 in May 2019 from 50.1 in the previous month and worse than market expectations of 49.9. This marked the first contraction in manufacturing activity since February, amid escalating trade tensions with the US. New orders contracted for the first time in four months (49.8 vs 51.4 in April), overseas sales declined for the twelfth straight month and was at a steepest rate in three months (46.5 vs 49.2), and employment shrank further (47.0 vs 47.2). At the same time, output growth slowed to a 3-month low (51.7 vs 52.1) and buying levels grew the least since a drop in February (50.5 vs 51.1). On the price front, input prices went up at the softest rate in three months despite marking the fourth straight month of gains (51.8 vs 53.1), while output charges declined for the first time since February(49.0 vs 52.0). Finally, business sentiment softened to its lowest in four months (54.5 vs 56.5). Business Confidence in China averaged 51.85 Index Points from 2005 until 2019, reaching an all time high of 59.20 Index Points in April of 2008 and a record low of 38.80 Index Points in November of 2008.

Business Confidence in China is expected to be 50.00 Index 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 49.70 in 12 months time. In the long-term, the China NBS Manufacturing PMI is projected to trend around 51.00 Index Points in 2020, according to our econometric models.

China NBS Manufacturing PMI
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Calendar GMT Actual Previous Consensus TEForecast
2019-02-28 01:00 AM NBS Manufacturing PMI 49.2 49.5 49.5 49.8
2019-03-31 01:00 AM NBS Manufacturing PMI 50.5 49.2 49.5 49.6
2019-04-30 01:00 AM NBS Manufacturing PMI 50.1 50.5 50.5 50.8
2019-05-31 01:00 AM NBS Manufacturing PMI 49.4 50.1 49.9 50.2
2019-06-30 01:00 AM NBS Manufacturing PMI 49.4 49.9 50
2019-07-31 01:00 AM NBS Manufacturing PMI 50.3
2019-08-31 01:00 AM NBS Manufacturing PMI 50.2


China Business Last Previous Highest Lowest Unit
Business Confidence 49.40 50.10 59.20 38.80 Index Points [+]
Services PMI 52.70 54.50 54.70 50.00 Index Points [+]
Non Manufacturing PMI 54.30 54.30 62.20 50.80 percent [+]
Manufacturing PMI 50.20 50.20 52.30 47.20 [+]
Industrial Production 5.00 5.40 29.40 -21.10 percent [+]
Industrial Production Mom 0.36 0.37 1.32 0.13 percent [+]
Manufacturing Production 5.00 5.30 11.40 5.00 percent [+]
New Orders 49.80 51.40 65.10 32.30 Index Points [+]
Changes in Inventories 15873.10 14186.00 15873.10 3.00 CNY HML [+]
Total Vehicle Sales 1912600.00 1980500.00 3060271.00 88416.00 [+]
Car Production 1491400.00 1660500.00 2669100.00 215533.00 Units [+]
Car Registrations 1561200.00 1574900.00 2672300.00 213534.00 [+]
Internet Speed 7583.32 6295.74 7583.32 635.70 KBps [+]
IP Addresses 98862937.00 104032031.00 119094184.00 28818357.00 IP [+]
Steel Production 85032.00 80326.00 85032.00 4918.00 Thousand Tonnes [+]
Mining Production 3.90 2.90 7.90 -3.80 percent [+]
Capacity Utilization 75.90 76.00 78.00 72.90 percent [+]
Competitiveness Index 72.61 71.76 72.61 4.55 Points [+]
Competitiveness Rank 28.00 28.00 34.00 26.00 [+]
Composite Pmi 51.50 52.70 53.70 48.00 [+]
Cement Production 22696.00 21345.40 23427.00 781.50 Ten Thousands of Tonnes [+]
Corruption Index 39.00 41.00 41.00 21.60 Points [+]
Corruption Rank 87.00 77.00 100.00 40.00 [+]
Corporate Profits 1812940.00 1297200.00 7518710.00 1617.00 CNY Million [+]
Ease of Doing Business 46.00 78.00 99.00 46.00 [+]
Electricity Production 544000.00 569800.00 640500.00 41760.00 Gigawatt-hour [+]


China NBS Manufacturing PMI

In China, the NBS Manufacturing Purchasing Manager Index measures the performance of the manufacturing sector and is derived from a survey of more large-scale, state-owned companies. The Manufacturing Purchasing Managers Index is based on five individual indexes with the following weights: New Orders (30 percent), Output (25 percent), Employment (20 percent), Suppliers’ Delivery Times (15 percent) and Stock of Items Purchased (10 percent), with the Delivery Times index inverted so that it moves in a comparable direction. A reading above 50 indicates an expansion of the manufacturing sector compared to the previous month; below 50 represents a contraction; while 50 indicates no change. . This page provides - China Business Confidence - actual values, historical data, forecast, chart, statistics, economic calendar and news. China NBS Manufacturing PMI - actual data, historical chart and calendar of releases - was last updated on June of 2019.

Actual Previous Highest Lowest Dates Unit Frequency
49.40 50.10 59.20 38.80 2005 - 2019 Index Points Monthly




Country Last Previous
Australia 7.00 May/19
Brazil 56.50 May/19
Canada 55.90 May/19
China 49.40 May/19
Euro Area 0.30 May/19
France 104.00 May/19
Germany 97.90 May/19
India 113.50 Jun/19
Indonesia 102.10 Mar/19
Italy 102.00 May/19
Japan 12.00 Mar/19
Mexico 52.40 May/19
Netherlands 4.70 May/19
Russia -1.00 May/19
Saudi Arabia 3.00 Jun/16
Singapore 1.00 Mar/19
South Africa 28.00 Jun/19
South Korea 76.00 May/19
Spain -3.30 May/19
Switzerland 94.40 May/19
Turkey 98.90 May/19
United Kingdom -13.00 Jun/19
United States 52.10 May/19


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