The official NBS Manufacturing PMI declined to 48.0 in November 2022 from 49.2, below market forecasts of 49.0. This was the second straight month of contraction in factory activity and the steepest pace since April, amid a new wave of COVID cases and tough restrictions in some large cities. Output (47.8 vs 49.6 in October), new orders (46.4 vs 48.1), and export sales (46.7 vs 47.6) all fell at faster paces. Also, employment stayed weak, dropping the most in seven months (47.4 vs 48.3); and buying activity declined for the second month in a row, with the rate of fall the steepest since April. At the same time, delivery time lengthened the most in six months (46.7 vs 47.1). On the price front, input cost rose the least since August (50.7 vs 53.3); while a fall in output charges extended for the seventh month running (47.4 vs 48.7). Finally, business sentiment turned downbeat following months of optimism (48.9 vs 52.6). source: National Bureau of Statistics of China

Business Confidence in China averaged 51.48 points from 2005 until 2022, 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 December of 2022.

Business Confidence in China is expected to be 50.00 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 52.00 points in 2023 and 51.00 points in 2024, according to our econometric models.

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China NBS Manufacturing PMI



Calendar GMT Actual Previous Consensus TEForecast
2022-10-31 01:30 AM Oct 49.2 50.1 50 50
2022-11-30 01:30 AM Nov 48 49.2 49 49
2022-12-31 01:30 AM Dec 48


Related Last Previous Unit Reference
Business Confidence 48.00 49.20 points Nov 2022
Non Manufacturing PMI 46.70 48.70 percent Nov 2022
Industrial Production Mom 0.33 0.84 percent Oct 2022
Industrial Production 5.00 6.30 percent Oct 2022
Manufacturing Production 5.20 6.40 percent Oct 2022
New Orders 46.40 48.10 points Nov 2022
Changes in Inventories 10996.00 6718.00 CNY HML Dec 2021
Leading Economic Index 94.39 93.85 points Sep 2022
Electricity Production 661000.00 683000.00 Gigawatt-hour Oct 2022
Mining Production 4.00 7.20 percent Oct 2022
Corporate Profits 6976820.00 6244180.00 CNY Million Oct 2022
Cement Production 20383.69 20861.93 Ten Thousands of Tonnes Oct 2022
Capacity Utilization 75.60 75.10 percent Sep 2022

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
48.00 49.20 59.20 35.70 2005 - 2022 points Monthly

News Stream
China Manufacturing Shrinks
The official NBS Manufacturing PMI declined to 48.0 in November 2022 from 49.2, below market forecasts of 49.0. This was the second straight month of contraction in factory activity and the steepest pace since April, amid a new wave of COVID cases and tough restrictions in some large cities. Output (47.8 vs 49.6 in October), new orders (46.4 vs 48.1), and export sales (46.7 vs 47.6) all fell at faster paces. Also, employment stayed weak, dropping the most in seven months (47.4 vs 48.3); and buying activity declined for the second month in a row, with the rate of fall the steepest since April. At the same time, delivery time lengthened the most in six months (46.7 vs 47.1). On the price front, input cost rose the least since August (50.7 vs 53.3); while a fall in output charges extended for the seventh month running (47.4 vs 48.7). Finally, business sentiment turned downbeat following months of optimism (48.9 vs 52.6).
2022-11-30
China Manufacturing Sector Unexpectedly Shrinks
The official NBS Manufacturing PMI unexpectedly fell to 49.2 in October 2022 from 50.1, missing market forecasts of 50.0. This was the lowest reading since July, amid strict COVID restrictions in several big cities, with output (49.6 vs 51.5 in September), new orders (48.1 vs 49.8), and export sales (47.6 vs 47.0) all falling. Buying activity also declined following an increase in September (49.3 vs 50.2), while employment dropped at a steeper rate (48.3 vs 49.0). Meantime, delivery time lengthened the most in five months (47.1 vs 48.7). Turning to prices, input cost rose the most since May (53.3 vs 51.3); while output charges decreased at a softer pace (48.7 vs 47.1). Finally, business sentiment eased from September's three-month high (52.6 vs 53.4).
2022-10-31
China Factory Activity Unexpectedly Expands
The official NBS Manufacturing PMI for China increased to 50.1 in September 2022 from 49.4 in the previous month, surpassing market forecasts of 49.6. This was the first expansion in factory activity in three months, amid a series of stimulus packages from the government and an easing of COVID restrictions in some cities. Both output (51.5 vs 49.8 in August) and buying activity (50.2 vs 49.2) grew for the first time in three months while new orders shrank the least since June (49.8 vs 49.2). Meantime, both export sales (47.0 vs 48.1) and employment (49.0 vs 48.9) continued to decline. Elsewhere, delivery time lengthened the most in four months (48.7 vs 49.5). Turning to prices, input cost rose for the first time in three months (51.3 vs 44.3); with output charges falling the least since May (47.1 vs 44.5). Finally, business sentiment improved to a three-month high (53.4 vs 52.3).
2022-09-30