The Caixin China General Composite PMI rose to 55.6 in May 2023 from 53.6 in the prior month pointing to the fifth straight month of growth in private sector activity and the steepest pace since December 2020. Output rose faster across both the manufacturing and service sectors, with the latter seeing a quicker rate of rise. New orders rose the most in over 2 years, while growth in export orders remained marginal. Meantime, employment fell as a faster drop in manufacturing headcounts offset a mild growth in the service economy. Prices data meanwhile indicated a marginal rise in costs that was the slowest in 3 years. Output charges dropped for the second month. Finally, sentiment eased. “It remains a prominent feature that the services sector is stronger than manufacturing," said Dr. Wang Zhe, an economist at Caixin Insight. "This divergence highlights that economic growth is lacking internal drive and market entities lack sufficient confidence." source: Markit Economics
Composite PMI in China averaged 51.26 points from 2013 until 2023, reaching an all time high of 57.50 points in November of 2020 and a record low of 27.50 points in February of 2020. This page provides - China Composite Pmi- actual values, historical data, forecast, chart, statistics, economic calendar and news. China Composite PMI - data, historical chart, forecasts and calendar of releases - was last updated on June of 2023.
Composite PMI in China is expected to be 53.00 points by the end of this quarter, according to Trading Economics global macro models and analysts expectations. In the long-term, the China Composite PMI is projected to trend around 51.00 points in 2024, according to our econometric models.