The Caixin China General Manufacturing PMI unexpectedly rose to 50.9 in May 2023 from 49.5 in April. Output rose the most in 11 months, new order growth was at 2 year-high, and foreign sales continued to increase. Meantime, buying activity expanded the least in 4 months; while employment fell at the steepest pace since February 2020, with backlogs down for the first time in 5 months. Delivery times got even shorter as suppliers kept sufficient stocks. On the cost side, input prices fell for the 2nd month on the back of better supply chains and lower prices of metals, food, and fuel. However, selling prices dropped solidly, due to intense market competition. Finally, sentiment slipped to a 7-month low, on concerns over lingering uncertainty, particularly from overseas. "Current economic growth lacks internal drive and market entities lack sufficient confidence," highlighting the importance of restoring demand," said Dr. Wang Zhe, an economist at Caixin Insight Group. source: Markit Economics
Manufacturing PMI in China averaged 50.05 points from 2011 until 2023, reaching an all time high of 54.90 points in November of 2020 and a record low of 40.30 points in February of 2020. This page provides the latest reported value for - China Manufacturing PMI - plus previous releases, historical high and low, short-term forecast and long-term prediction, economic calendar, survey consensus and news. China Caixin Manufacturing PMI - data, historical chart, forecasts and calendar of releases - was last updated on June of 2023.
Manufacturing PMI in China is expected to be 50.40 points by the end of this quarter, according to Trading Economics global macro models and analysts expectations. In the long-term, the China Caixin Manufacturing PMI is projected to trend around 51.10 points in 2024 and 50.80 points in 2025, according to our econometric models.