The official NBS Manufacturing PMI rose to 49.7 in August of 2023 from 49.3 in July, exceeding market forecasts of 49.4. The latest result was the softest drop in factory activity since an expansion in March, amid various stimulus measures from Beijing to revive a recovery in the economy. Output grew the most in five months (51.9 vs 50.2 in July) and new orders expanded for the first time in five months (50.2 vs 49.5). At the same time, buying activity advanced for the first time since March (50.5 vs 49.5) while delivery time shortened the most in six months (51.6 vs 50.5). Meanwhile, export sales fell at the softest pace in three months (46.7 vs 46.3) and employment declined for the sixth month in a row (48.0 vs 48.1). On the price front, input cost climbed for the second straight month and at a faster pace (56.5 vs 52.4); while output charges accelerated for the first time in six months (52.0 vs 48.6). Finally, business sentiment improved to a six-month high (55.6 vs 55.1). source: National Bureau of Statistics of China

Business Confidence in China averaged 51.41 points from 2005 until 2023, 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 August of 2023.

Business Confidence in China is expected to be 49.00 points by the end of this quarter, according to Trading Economics global macro models and analysts expectations. In the long-term, the China NBS Manufacturing PMI is projected to trend around 53.00 points in 2024 and 52.00 points in 2025, according to our econometric models.

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China NBS Manufacturing PMI



Calendar GMT Reference Actual Previous Consensus TEForecast
2023-07-31 01:30 AM Jul 49.3 49 49.2 48.9
2023-08-31 01:30 AM Aug 49.7 49.3 49.4 49.5
2023-09-30 01:30 AM Sep 49.7 49


Related Last Previous Unit Reference
Non Manufacturing PMI 51.00 51.50 percent Aug 2023
Business Confidence 49.70 49.30 points Aug 2023
Industrial Production Mom 0.01 0.68 percent Jul 2023
Industrial Production 3.70 4.40 percent Jul 2023
Manufacturing Production 3.90 4.80 percent Jul 2023
New Orders 49.50 48.60 points Jul 2023
Changes in Inventories 15932.80 10996.00 CNY Hundred Million Dec 2022
Leading Economic Index 94.39 93.85 points Sep 2022
Electricity Production 846170.00 739902.26 Gigawatt-hour Jul 2023
Mining Production 1.30 1.50 percent Jul 2023
Corporate Profits 3943980.00 3388460.00 CNY Million Jul 2023
Cement Production 17618.30 18503.20 Ten Thousands of Tonnes Jul 2023
Capacity Utilization 74.50 74.30 percent Jun 2023

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. .
Actual Previous Highest Lowest Dates Unit Frequency
49.70 49.30 59.20 35.70 2005 - 2023 points Monthly

News Stream
China Manufacturing Shrinks Less than Expected
The official NBS Manufacturing PMI rose to 49.7 in August of 2023 from 49.3 in July, exceeding market forecasts of 49.4. The latest result was the softest drop in factory activity since an expansion in March, amid various stimulus measures from Beijing to revive a recovery in the economy. Output grew the most in five months (51.9 vs 50.2 in July) and new orders expanded for the first time in five months (50.2 vs 49.5). At the same time, buying activity advanced for the first time since March (50.5 vs 49.5) while delivery time shortened the most in six months (51.6 vs 50.5). Meanwhile, export sales fell at the softest pace in three months (46.7 vs 46.3) and employment declined for the sixth month in a row (48.0 vs 48.1). On the price front, input cost climbed for the second straight month and at a faster pace (56.5 vs 52.4); while output charges accelerated for the first time in six months (52.0 vs 48.6). Finally, business sentiment improved to a six-month high (55.6 vs 55.1).
2023-08-31
China Manufacturing Shrinks for 4th Month: NBS
The official NBS Manufacturing PMI rose to 49.3 in July of 2023 from 49 in June, exceeding market forecasts of 49.2. However, the latest print pointed to the fourth straight month of drop in factory activity, amid a rapidly faltering post-pandemic recovery, with new orders (49.5 vs 48.6 in June) and export sales (46.3 vs 46.4) falling for the fourth month in a row while buying activity dropped at a softer rate (49.5 vs 48.9). At the same time, employment decreased for the fifth straight month and was at a steeper rate (48.1 vs 48.2). Output grew for the second consecutive month (50.2 vs 50.3). Meanwhile, delivery time was little changed (50.5 vs 50.4). On the price front, input cost advanced for the first time since March and the fastest pace in five months (52.4 vs 45.0); while output charges dropped for the fifth successive month, but the smallest decline in four months (48.6 vs 43.9). Finally, business sentiment improved to a four-month high (55.1 vs 53.4).
2023-07-31
China Manufacturing Shrinks for 3rd Month: NBS
The official NBS Manufacturing PMI rose to 49 in June of 2023 from 48.8 in May, matching market estimates while pointing to the third straight month of contraction in factory activity. The latest figure came amid growing signs that China’s post-pandemic recovery lost steam, with new orders (48.6 vs 48.3 in May), buying activity (48.9 vs 49.0) and export sales (46.4 vs 47.2) all extending declines. At the same time, employment dropped for the fourth straight month and was at a steeper rate (48.2 vs 48.4). Meanwhile, delivery time was little changed (50.4 vs 50.5). On the price front, input cost fell at a softer pace despite dropping for the third month running (45.0 vs 40.8); while output charges dropped for the fourth successive month (43.9 vs 41.6). Finally, business sentiment remained upbeat despite hitting its lowest level in six months (53.4 vs 54.1).
2023-06-30