The Caixin China General Composite PMI fell to 51.9 in July 2023 from 52.5 in June. This was the seventh straight month of growth in private sector activity but the softest pace since January, as the manufacturing sector contracted for the first time in three months while growth in the service economy sustained for the 7th successive month. New orders rose the least in six months, amid a divergent trend where service providers saw a stronger rise in sales while factory orders shrank for the first time since April. Employment rose slightly for the second month running, which was also driven by the service sector, as job shedding persisted at manufacturers. On prices, input costs rose marginally, while output charges fell for the fourth straight month. "At present, monetary policy only has a limited effect on boosting supply," said Dr. Wang Zhe, an economist at Caixin Insight Group. "An expansionary fiscal policy that targets demand should be prioritized.” source: Markit Economics

Composite PMI in China averaged 51.28 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 August 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 52.00 points in 2024 and 51.00 points in 2025, according to our econometric models.

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China Composite PMI



Related Last Previous Unit Reference
Manufacturing PMI 49.20 50.50 points Jul 2023
Services PMI 54.10 53.90 points Jul 2023
Composite PMI 51.90 52.50 points Jul 2023

China Composite PMI
In China, the Caixin China Composite Output Index tracks business trends across private sector activity, based on data collected from a representative panel of around 400 companies. The index tracks variables such as sales, new orders, employment, inventories and prices. A reading above 50 indicates expansion in business activity and below 50 indicates that it is generally declining.
Actual Previous Highest Lowest Dates Unit Frequency
51.90 52.50 57.50 27.50 2013 - 2023 points Monthly
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News Stream
China Composite PMI Drops to 6-Month Low
The Caixin China General Composite PMI fell to 51.9 in July 2023 from 52.5 in June. This was the seventh straight month of growth in private sector activity but the softest pace since January, as the manufacturing sector contracted for the first time in three months while growth in the service economy sustained for the 7th successive month. New orders rose the least in six months, amid a divergent trend where service providers saw a stronger rise in sales while factory orders shrank for the first time since April. Employment rose slightly for the second month running, which was also driven by the service sector, as job shedding persisted at manufacturers. On prices, input costs rose marginally, while output charges fell for the fourth straight month. "At present, monetary policy only has a limited effect on boosting supply," said Dr. Wang Zhe, an economist at Caixin Insight Group. "An expansionary fiscal policy that targets demand should be prioritized.”
2023-08-03
China Composite PMI Falls to 5-Month Low
The Caixin China General Composite PMI slipped to 52.5 in June 2023 from 55.6 in May. This was the sixth straight month of growth in private sector activity but the softest pace since January, with the service sector expanding the least in six months while manufacturing grew for the second month in a row. New orders rose the least in five months, with service providers seeing a notable slowdown in sales growth. Also, export sales grew at the softest pace in three months. Employment returned to growth, mainly due to job creation in the service sector as manufacturing payrolls dropped again. On prices, input cost fell for first time in over three years, which in turn was driven by a fall in manufacturing costs. Output charges fell for the third month in a row. "Stronger policy support is needed, along with higher efficiency, to ensure that policies benefit market players directly and bolster employment and market expectations, "said Dr. Wang Zhe, an economist at Caixin Insight Group.
2023-07-05
China Composite PMI Rises to 29-Month Peak
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."
2023-06-05