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." source: Markit Economics

Composite PMI in China averaged 51.26 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 June 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 51.00 points in 2024, according to our econometric models.

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China Composite PMI



Related Last Previous Unit Reference
Services PMI 57.10 56.40 points May 2023
Manufacturing PMI 50.90 49.50 points May 2023
Composite PMI 55.60 53.60 points May 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
55.60 53.60 57.50 27.50 2013 - 2023 points Monthly
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News Stream
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
China Composite PMI Falls to 3-Month Low
The Caixin China General Composite PMI declined to a three-month low of 53.6 in April 2023 from March’s nine-month high of 54.5. It was the fourth straight period of growth in private sector activity as services activity maintained momentum following the removal of strict pandemic measures. Both manufacturers and service providers noted softer rises in output compared to March. New orders advanced at the weakest rate for three months, albeit solidly overall, while new export business rose slightly. Employment climbed only marginally, as a weaker upturn in service sector staff numbers combined with a quicker fall in manufacturing headcounts. On the pricing front, input cost inflation rose at the slowest rate for seven months, as a fresh fall in manufacturing input prices helped to offset a quicker rise in service sector expenses. Meantime, output cost inflation dropped for the first time since last September.
2023-05-05
China Composite PMI Rises to 9-Month Peak
The Caixin China General Composite PMI increased to 54.5 in March 2023 from 54.2 in the prior month. It was the third straight period of growth in private sector activity and the strongest pace since last June amid the removal of strict pandemic measures. An accelerated rise in services activity offset a softer upturn in manufacturing output. New orders advanced at a rapid rate that was only fractionally slower than February's 21-month record. Growth in new orders picked up at services firms, while manufacturers noted weaker sales. At the same time, export orders fell slightly due to a drop in foreign demand for manufactured items. Employment added modestly for the second month, and inflationary pressures were broadly stable and mild. "... the foundation for economic recovery is not yet solid," said Dr. Wang Zhe, an economist at Caixin Insight. "Looking forward, economic growth will still rely on a boost in domestic demand, especially an improvement in household consumption."
2023-04-06