The Caixin China General Manufacturing PMI fell to 51.1 in January 2020 from 51.5 in the previous month, missing market expectations of 51.3 and signalling only a marginal improvement in the health of the sector that was the weakest since August. Output and new orders increased at a softer pace, with exports falling for the first time in five months, amid ongoing concerns about the coronavirus outbreak that has taken over 350 lives in the country so far and has affected over 16,600 people worldwide. In addition, employment declined for the first time since last October, while backlogs of work were broadly stable at the start of the year following a 46-month sequence of accumulation. On the price front, input cost inflation picked up to a 14-month high, while selling price rose only modestly on the back of competitive market pressures. Looking ahead, business sentiment strengthened to its highest in 22 months amid easing of China-US trade tensions.

Manufacturing PMI in China averaged 49.95 points from 2011 until 2020, reaching an all time high of 52.30 points in January of 2013 and a record low of 47.20 points in September of 2015. 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. source: Markit Economics

Manufacturing PMI in China is expected to be 48.70 points by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate Manufacturing PMI in China to stand at 50.10 in 12 months time. In the long-term, the China Caixin Manufacturing PMI is projected to trend around 50.70 points in 2021 and 50.40 points in 2022, according to our econometric models.


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China Caixin Manufacturing PMI

Actual Previous Highest Lowest Dates Unit Frequency
51.10 51.50 52.30 47.20 2011 - 2020 points Monthly


News Stream
China Manufacturing Growth Slows to 5-Month Low
The Caixin China General Manufacturing PMI fell to 51.1 in January 2020 from 51.5 in the previous month, missing market expectations of 51.3 and signalling only a marginal improvement in the health of the sector that was the weakest since August. Output and new orders increased at a softer pace, with exports falling for the first time in five months, amid ongoing concerns about the coronavirus outbreak that has taken over 350 lives in the country so far and has affected over 16,600 people worldwide. In addition, employment declined for the first time since last October, while backlogs of work were broadly stable at the start of the year following a 46-month sequence of accumulation. On the price front, input cost inflation picked up to a 14-month high, while selling price rose only modestly on the back of competitive market pressures. Looking ahead, business sentiment strengthened to its highest in 22 months amid easing of China-US trade tensions.
2020-02-03
China Manufacturing Growth Slows in December: Caixin
The Caixin China General Manufacturing PMI fell to 51.5 in December 2019 from 51.8 in the previous month, while markets had forecast an unchanged reading. New orders growth slowed to three-month low, amid a marginal rise in exports, while output expansion remained strong overall. At the same time, purchasing activity rose for the sixth month in a row, though the rate of growth cooled from November, while employment was unchanged as a number of firms mentioned efforts to contain costs and boost efficiency. As a result, the level of outstanding business rose again, albeit at a weaker pace. On the price front, operating expenses rose for the fourth month in a row, albeit marginally, which underpinned a renewed increase in selling prices. Looking ahead, sentiment remained weaker than the historical trend, due to concerns over ongoing trade tensions, environmental protection policies and intense market competition.
2020-01-02
China Manufacturing Growth at Near 3-Year High: Caixin
The Caixin China General Manufacturing PMI edged up to a near three-year high of 51.8 in November 2019 from 51.7 in the previous month, beating market expectations of 51.4. Both output and new orders grew solidly, as new export orders saw the first back-to-back monthly rise for over a year-and-a-half, and buying activity rose the most since January 2018. Meanwhile, employment was broadly stable following a seven-month sequence of decline, but capacity pressures persisted, with backlogs of work expanding again. On the price front, average input costs rose marginally, while factory gate charges fell slightly amid reports of a general drop in market prices. Looking ahead, sentiment towards the 12-month outlook for production slipped to a five-month low, due to stricter environmental policies and market uncertainty.
2019-12-02
China Manufacturing Growth at Near 3-Year High: Caixin
The Caixin China General Manufacturing PMI rose unexpectedly to 51.7 in October 2019 from 51.4 in September, beating market expectations of 51.0. The latest reading pointed to the strongest pace of expansion in the manufacturing sector since February 2017, as output grew the most since December 2016 and total new orders increased at the fastest rate in over six years boosted by a rebound in exports. In addition, companies increased their purchasing activity at the quickest pace for 20 months, leading to a further rise in stocks of inputs. Meanwhile, employment continued to fall due to the non-replacement of voluntary leavers and efforts to contain costs. On the price front, prices charged by manufacturers fell slightly due to competitive market pressures, while cost burdens rose slightly. Looking ahead, sentiment strengthened to its highest since April.
2019-11-01

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.