The Official NBS Manufacturing PMI in China was unchanged at 50.2 in December 2019, slightly above market expectations of 50.1. The latest reading pointed to the second straight month of expansion in factory activity, supported by government stimulus measures and optimism surrounding a trade war truce with the US. Output growth accelerated (53.2 vs 52.6) and new orders continued to rise (51.2 vs 51.3) boosted by a rebound in exports (50.3 vs 48.8). Meanwhile, employment fell further (47.3, the same as in November). On the price front, input prices increased (51.8 vs 49.0), while selling prices decreased for the eighth straight month but at a softer rate (49.2 vs 47.3). Looking ahead, sentiment softened slightly from November's seven-month high (54.4 vs 54.9).

Business Confidence in China averaged 51.78 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. This page provides - China Business Confidence - actual values, historical data, forecast, chart, statistics, economic calendar and news. source: National Bureau of Statistics of China

Business Confidence in China is expected to be 50.30 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 51.10 in 12 months time. In the long-term, the China NBS Manufacturing PMI is projected to trend around 51.00 points in 2020, according to our econometric models.


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China NBS Manufacturing PMI

Actual Previous Highest Lowest Dates Unit Frequency
50.20 50.20 59.20 38.80 2005 - 2019 points Monthly

Calendar GMT Actual Previous Consensus TEForecast
2019-09-30 01:00 AM Sep 49.8 49.5 49.5 49.9
2019-10-31 01:00 AM Oct 49.3 49.8 49.8 49.6
2019-11-30 01:00 AM Nov 50.2 49.3 49.5 49.8
2019-12-31 01:00 AM Dec 50.2 50.2 50.1 50.3
2020-01-31 01:00 AM Jan 50.2 50 50.5


News Stream
2019-11-30
China Manufacturing Grows for First Time in 7 Months: NBS
The Official NBS Manufacturing PMI in China rose to 50.2 in November 2019 from 49.3 in the previous month, beating market expectations of 49.5 and pointing to the first month of expansion in factory activity since April. Output increased the most in eight months (52.6 vs 50.8 in October) and new orders returned to growth (51.3 vs 49.6) as overseas sales fell at a softer pace (48.8 vs 47.0). On the other hand, employment continued to decline (PMI unchanged at 47.3). On the price front, input price dropped for the first time in three months (49.0 vs 50.4) and selling prices decreased for the seventh month in a row (47.3 vs 48.0). Looking ahead, sentiment strengthened to a seven-month high (54.9 vs 54.2).

2019-10-31
China Manufacturing Shrinks for 6th Month: NBS
The Official NBS Manufacturing PMI in China fell to 49.3 in October 2019 from the previous month's 49.8 and below market expectations of 49.8. This marked the sixth straight month of contraction in factory activity, amid ongoing trade row with the US and sluggish domestic demand. New orders fell (49.6 vs 50.5 in September) led by the 17th straight month of decline in overseas sales (47 vs 48.2), and employment continued to drop (47.3 vs 47.0). In addition, output grew the least since a contraction in February (50.8 vs 52.3). On the price front, input prices rose at a slower rate (50.4 vs 52.2), while output charges fell further (48.0 vs 49.9). Looking ahead, business sentiment softened from September's four-month high (54.2 vs 54.4).

2019-09-30
China Manufacturing Shrinks for 5th Month: NBS
The Official NBS Manufacturing PMI in China rose to 49.8 in September 2019 from 49.5 in the previous month and above market expectations of 49.5. Still, the latest reading pointed to the fifth straight month of contraction in the manufacturing sector, amid ongoing trade row with the US and sluggish domestic demand. Employment continued to contract (47.0 vs 46.9 in August) while new orders rebounded (50.5 vs 49.7) despite a 16th straight month of decline in export sales (48.2 vs 47.2). In addition, factory activity grew the most in six months (52.3 vs 51.9) and suppliers' delivery time rose the most in four months (50.5 vs 50.3), while stocks of finished products fell further (47.6 vs 47.5). Looking ahead, business sentiment strengthened to a four-month high (54.4 vs 53.3).

2019-08-31
China Factory Activity Contracts for 4th Month
The Official NBS Manufacturing PMI in China dropped to 49.5 in August 2019 from 49.7 in the previous month and below market expectations of 49.7. The latest reading pointed to the fourth straight month of contraction in factory activity, amid growing trade frictions with the US and sluggish domestic demand. There were falls in new orders (49.7 vs 49.8 in July) and employment (46.9 vs 47.1), while output growth slowed (51.9 vs 52.1). Export orders were down for the 15th straight month (47.2 vs 46.9) while buying level declined at the steepest rate since February (49.3 vs 50.4). On the price front, input prices dropped the most in seven months (48.6 vs 50.7), while output charges fell for the fourth month in a row (46.7 vs 46.9). Looking ahead, business sentiment weakened to its lowest since January (53.3 vs 53.6).

2019-07-31
China Manufacturing Output Shrinks for 3rd Month: NBS
The Official NBS Manufacturing PMI in China rose to 49.7 in July 2019 from 49.4 in the previous month and compared to market expectations of 49.6. The latest reading pointed to the third straight month of decline in factory activity, suggesting there will be more stimulus from the government to support the economy. Softer declines were recorded for new orders (49.8 vs 49.6 in June), export sales (46.9 vs 46.3) and employment (47.1 vs 46.9), while output expanded the most in three months (52.1 vs 51.3). Also, buying level returned to growth following a drop a month earlier (50.4 vs 49.7). On the price front, input prices rebounded (50.7 vs 49.0), while output charge deflation eased (46.9 vs 45.5). Looking ahead, business sentiment strengthened a bit from June's five-month low (53.6 vs 53.4).

2019-06-30
China Factory Activity Shrinks for 2nd Month: NBS
The Official NBS Manufacturing PMI in China was unchanged at 49.4 in June 2019, missing market expectations of 49.5 and pointing to the second straight month of contraction in manufacturing activity, amid declines in new orders (49.6 vs 49.8 in May), new export orders (46.3 vs 46.5) and employment (46.9 vs 47.0). Also, buying levels dropped for the first time in four months (49.7 vs 50.5) while output growth slowed (51.3 vs 51.7). On the price front, input prices decreased for the first time since January (49.0 vs 51.8), while output charges fell for the second month in a row (45.4 vs 49.0). Looking ahead, business sentiment weakened to its lowest since January.


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. .

China Business Last Previous Highest Lowest Unit
Business Confidence 50.20 50.20 59.20 38.80 points [+]
Services PMI 52.50 53.50 54.70 50.00 points [+]
Manufacturing PMI 51.50 51.80 52.30 47.20 points [+]
Non Manufacturing PMI 53.50 54.40 62.20 50.80 percent [+]
Industrial Production 6.90 6.20 29.40 -21.10 percent [+]
Industrial Production Mom 0.58 0.66 1.32 0.13 percent [+]
Manufacturing Production 7.00 6.30 11.40 4.30 percent [+]
New Orders 51.20 51.30 65.10 32.30 points [+]
Changes in Inventories 15873.10 14586.00 15873.10 3.00 CNY HML [+]
Total Vehicle Sales 2659000.00 2456879.00 3060271.00 88416.00 [+]
Car Production 2185380.00 2163000.00 2669100.00 215533.00 Units [+]
Car Registrations 2213089.00 2057000.00 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 [+]
Mining Production 5.60 5.70 8.10 -3.80 percent [+]
Steel Production 80287.00 81521.00 89091.00 4918.00 Thousand Tonnes [+]
Capacity Utilization 77.50 76.40 78.00 72.90 percent [+]
Competitiveness Index 73.90 72.61 73.90 4.55 Points [+]
Competitiveness Rank 28.00 28.00 34.00 26.00 [+]
Composite Pmi 52.60 53.20 53.70 48.00 points [+]
Cement Production 19935.00 22487.40 23427.00 781.50 Ten Thousands of Tonnes [+]
Corruption Index 41.00 39.00 41.00 21.60 Points [+]
Corruption Rank 80.00 87.00 100.00 40.00 [+]
Corporate Profits 5610070.00 5015100.00 7518710.00 1617.00 CNY Million [+]
Ease of Doing Business 31.00 46.00 99.00 31.00 [+]
Electricity Production 654400.00 589000.00 668200.00 41760.00 Gigawatt-hour [+]