The Caixin China General Manufacturing PMI fell to 49.2 in July 2023 from 50.5 in June, missing market estimates of 50.3 while hitting its lowest reading in six months. It was also the first fall in factory activity since April, as new orders dropped after growing in the prior two months, foreign sales contracted the most since September 2022, and buying levels were down for the first time since January. Further, employment declined for the 5th month running while backlogs of work were stable. Delivery times got a bit worse, as some suppliers reduced their inventory levels. On prices, input cost fell for the fourth month; and output charges decreased further, on competitive pricing strategies. Finally, confidence hit a 4-month peak, but the degree of optimism was historically subdued. "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

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 August of 2023.

Manufacturing PMI 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 Caixin Manufacturing PMI is projected to trend around 52.10 points in 2024 and 51.80 points in 2025, according to our econometric models.

Ok
The Trading Economics Application Programming Interface (API) provides direct access to our data. It allows API clients to download millions of rows of historical data, to query our real-time economic calendar, subscribe to updates and receive quotes for currencies, commodities, stocks and bonds.

API Features Documentation Interested? Click here to contact us
Please Paste this Code in your Website
Width
Height
 Preview

China Caixin Manufacturing PMI



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

China Caixin Manufacturing PMI
In China, the Caixin Manufacturing PMI Purchasing Managers' Index measures the performance of the manufacturing sector and is derived from a survey of private 430 industrial 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
49.20 50.50 54.90 40.30 2011 - 2023 points Monthly

News Stream
China Manufacturing Shrinks
The Caixin China General Manufacturing PMI fell to 49.2 in July 2023 from 50.5 in June, missing market estimates of 50.3 while hitting its lowest reading in six months. It was also the first fall in factory activity since April, as new orders dropped after growing in the prior two months, foreign sales contracted the most since September 2022, and buying levels were down for the first time since January. Further, employment declined for the 5th month running while backlogs of work were stable. Delivery times got a bit worse, as some suppliers reduced their inventory levels. On prices, input cost fell for the fourth month; and output charges decreased further, on competitive pricing strategies. Finally, confidence hit a 4-month peak, but the degree of optimism was historically subdued. "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.”
2023-08-01
China Manufacturing Growth Slows Less than Expected
The Caixin China General Manufacturing PMI fell to 50.5 in June 2023 from 50.9 in May but above market consensus of 50.2. The latest print was the second straight month of expansion in factory activity, with output growth slowing from May's 11-month high and new orders also softening. Employment fell for the fourth month in a row while backlogs of work increased slightly. Meantime, export sales were broadly unchanged amid a further rise in buying activity. On prices, input cost fell the most since January 2016, due to lower prices of raw materials. Also, selling prices dropped, on increased competition and efforts to boost sales. Finally, sentiment dipped to an 8-month low, amid worries over sluggish market conditions. "A slew of recent data suggests that China’s recovery has yet to find a stable footing," said Dr. Wang Zhe, an economist at Caixin Insight Group. "Stronger policy support is needed, along with higher implementation efficiency from a micro perspective."
2023-07-03
China Manufacturing Unexpectedly Grows
The Caixin China General Manufacturing PMI unexpectedly rose to 50.9 in May 2023 from 49.5 in the previous month. While beating market consensus, the latest result highlighted a patchy recovery in the economy amid insufficient demand and deflation risks. 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.
2023-06-01