China Composite Pmi2013-2020 Data | 2021-2022 Forecast | Calendar | Historical

The Caixin China General Composite PMI was at 55.7 in June 2020, up from 54.5 in a month earlier. This was the strongest growth in private sector activity since November 2010 amid the relaxation of COVID-19 restrictions. Services activity grew the most in over a decade, while the manufacturing sector expanded at the fastest pace since December last year. New orders rose faster, with the rate of increase the steepest since January 2011. Meantime, new orders continued to grow as overseas demand mainly recovered for the service sector. Employment, at the same time, remained on a downward trend, On the price front, input costs rose slightly, while prices charged increased at a fractional pace. Looking ahead, businesses were optimistic about the economic outlook.

The Caixin China General Composite PMI surged to 54.5 in May 2020 from 47.6 in April, signaling the first expansion in total business activity since January and the quickest since January 2011 amid the relaxation of COVID-19 measures. The upturn was driven by steep increases in both manufacturing and services activity. New work rose for the first time in four months, while employment declined slightly, amid signs of spare capacity. Notably, backlogs of work fell for the first time in a year. Prices data showed that average input costs fell slightly for the second month running, while efforts to attract new orders led to a further drop in output charges. “In general, the improvement in supply and demand was still not able to fully offset the fallout fr+om the pandemic, and more time is needed for the economy to get back to normal," said Wang Zhe, economist at Caixin Insight Group.

The Caixin China General Composite PMI rose to 47.6 in April 2020 from 46.7 in the previous month, still signalling the third straight monthly decline in total business activity due to the negative impact of the COVID-19 pandemic on business operations and demand. Total new work fell again, which was predominantly driven by the steepest decline in export orders on record as clients globally faced more restrictions to halt the spread of the virus. Consequently, firms continued to cut their staff numbers, and at a quicker rate than in March. On the price front, operating expenses fell slightly after increasing in March. At the same time, firms continued to cut their prices charged in hopes of attracting sales. "We expect a macroeconomic stimulus package to launch soon, providing aid for businesses, safeguarding employment and boosting investment and consumption," Zhengsheng Zhong, chief economist at CEBM Group, said.

The Caixin China General Composite PMI jumped to 46.7 in March 2020 from a record low of 27.5 in the prior month. This was the second-lowest reading in 11 years, amid limited recovery from the coronavirus outbreak. Employment fell at a softer pace, while both domestic and external demand continued to drop. At the same time, capacity pressures continued to build with outstanding work rising further, though sector data showed this was driven by manufacturers as services firms noted lower backlogs. On the price front, output prices were meanwhile cut at the steepest rate since December 2015 as part of efforts to boost sales, despite a renewed increase in input costs.