The Caixin China General Manufacturing PMI edged up to 49.2 in January 2023 from December's 3-month low of 49.0 but less than market consensus of 49.5. This was the sixth straight month of drop in factory activity, amid sluggish operations after an abrupt shift in COVID policy. Output fell the least in 5 months while a fall in new orders eased. Buying levels dropped at the slowest pace in 3 months; while foreign demand remained weak, falling for the sixth month. Meantime, employment shrank for the 10th month with backlogs of work up for the first time since May 2022. Delivery times improved notably despite logistics had not returned to normal. On inflation, input and output prices diverged for the fourth month running. The rise in input cost was due to elevated cost of raw materials, particularly metals, while output prices fell, on sluggish market activity. Finally, sentiment was at its highest since April 2021, buoyed by hopes of better economic conditions and a rebound in orders. source: Markit Economics
Manufacturing PMI in China averaged 50.04 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 February of 2023.
Manufacturing PMI in China is expected to be 51.00 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 51.10 points in 2024 and 50.80 points in 2025, according to our econometric models.