The official NBS Manufacturing PMI for China fell to 51.3 in January 2021 from 51.9 a month earlier and missing market expectations of 51.6. This was the weakest growth in factory activity since August, due to a resurgence of local COVID-19 infections ahead of the Lunar New Year holidays, with output rising the least in three months (53.5 vs 54.2 in December). Also, new orders (52.3 vs 53.6), export sales (50.2 vs 51.3), and buying levels (52.0 vs 53.2) all expanded at the softest pace since August. In addition, employment shrank at the steepest rate since February (48.4 vs 31.8). On the price front, input prices remained elevated (67.1 vs 68.0), while output charges continued to rise solidly (57.2 vs 58.9). Looking ahead, sentiment weakened to a six-month low (57.9 vs 59.8). source: National Bureau of Statistics of China

Business Confidence in China averaged 51.65 points from 2005 until 2021, 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 February of 2021.

Business Confidence in China is expected to be 51.00 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 52.00 in 12 months time. In the long-term, the China NBS Manufacturing PMI is projected to trend around 52.00 points in 2022 and 51.00 points in 2023, according to our econometric models.

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China NBS Manufacturing PMI

Actual Previous Highest Lowest Dates Unit Frequency
51.30 51.90 59.20 35.70 2005 - 2021 points Monthly


Calendar GMT Actual Previous Consensus TEForecast
2020-10-31 01:00 AM Oct 51.4 51.5 51.3 51.4
2020-11-30 01:00 AM Nov 52.1 51.4 51.5 51
2020-12-31 01:00 AM Dec 51.9 52.1 52 51.5
2021-01-31 01:00 AM Jan 51.3 51.9 51.6 51.5
2021-02-28 01:00 AM Feb 51.3
2021-03-31 01:00 AM Mar
2021-04-30 01:00 AM Apr
2021-05-31 01:00 AM May


News Stream
China Manufacturing Growth Slows to 5-Month Low: NBS
The official NBS Manufacturing PMI for China fell to 51.3 in January 2021 from 51.9 a month earlier and missing market expectations of 51.6. This was the weakest growth in factory activity since August, due to a resurgence of local COVID-19 infections ahead of the Lunar New Year holidays, with output rising the least in three months (53.5 vs 54.2 in December). Also, new orders (52.3 vs 53.6), export sales (50.2 vs 51.3), and buying levels (52.0 vs 53.2) all expanded at the softest pace since August. In addition, employment shrank at the steepest rate since February (48.4 vs 31.8). On the price front, input prices remained elevated (67.1 vs 68.0), while output charges continued to rise solidly (57.2 vs 58.9). Looking ahead, sentiment weakened to a six-month low (57.9 vs 59.8).
2021-01-31
China Manufacturing Growth Eases Slightly in December
The official NBS Manufacturing PMI for China edged down to 51.9 in December 2020 from a 38-month high of 52.1 in the previous month and slightly below market consensus of 52.0. Still, it marked the tenth straight month of growth in factory activity as the economy continued to recover from the COVID-19 crisis, with softer increases being recorded for output (54.2 vs 54.7), new orders (53.6 vs 53.9), and new exports orders (51.3 vs 51.5). At the same time, employment was little-changed (49.6 vs 49.5). On the price front, both input costs and output charges rose sharply. Looking ahead, business sentiment eased slightly but remained strong overall (59.8 vs 60.1).
2020-12-31
China Manufacturing PMI Highest in Over 3 Years: NBS
The official NBS Manufacturing PMI for China rose to 52.1 in November 2020 from 51.4 a month earlier, beating market expectations of 51.5. The latest reading signaled the ninth straight month of growth in factory activity and the strongest since September 2017, as the economy continued to recover after the government lifted COVID-19 lockdowns and ramped up investment. There were faster increases in output (54.7 vs 53.9 in October), new orders (53.9 vs 52.8) and export sales (51.5 vs 51.0). At the same time, employment fell less than in a month earlier (49.5 vs 49.3). On the price front, input costs and output charges rose sharply. Looking ahead, business sentiment strengthened (60.1 vs 59.3).
2020-11-30
China Manufacturing Expands for 8th Month: NBS
The official NBS Manufacturing PMI for China stood at 51.4 in October 2020, little-changed from a six-month high of 51.5 in the previous month and compared with market expectations of 51.3. The latest reading pointed to the eighth straight month of growth in factory activity, amid ongoing recovery in the economy from the COVID-19 shock. There were rises in output (53.9 vs 54.0 in September), new orders (52.8 , the same as in September), and export sales (51.0 vs 50.8). Meanwhile, employment fell at a steeper pace (49.3 vs 49.6), while suppliers' delivery time was almost stable (50.6 vs 50.7). On the price front, input costs went up at a faster pace (58.8 vs 58.5), as well as output charges (53.2 vs 52.5). Looking ahead, business sentiment strengthened in October (59.3 vs 58.7).
2020-10-31

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. .