China’s official NBS Manufacturing PMI fell to 49.3 in October 2026 from 50.1 in September, missing market expectations of 50.0 and marking its lowest reading since July. The latest result pointed to subdued domestic demand as the boost from the Golden Week holiday waned, while overseas demand also softened despite continued resilience in AI-related trade. Both output (49.3 vs 50.1 in September) and export orders (48.7 vs 50.0) slipped into contraction, while new orders (49.4 vs 50.5) and purchasing activity (48.9 vs 51.0) declined for the first time in three months. At the same time, employment continued to shrink (48.4 vs 48.4), while delivery times were little changed (50.2 vs 50.1). On the price front, input cost inflation eased (56.8 vs 60.8), as did output price growth (51.7 vs. 54.0). Finally, business confidence dipped to a seven-month low (53.4 vs 53.8). source: National Bureau of Statistics of China

Business Confidence in China decreased to 49.30 points in October from 50.10 points in September of 2026. Business Confidence in China averaged 51.16 points from 2005 until 2026, 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 November of 2026.

Business Confidence in China decreased to 49.30 points in October from 50.10 points in September of 2026. Business Confidence in China is expected to be 50.90 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 51.30 points in 2027 and 50.30 points in 2028, according to our econometric models.



Calendar GMT Reference Actual Previous Consensus TEForecast
2026-09-30 01:30 AM
NBS Manufacturing PMI
Sep 50.1 49.8 50.1 50
2026-10-31 01:30 AM
NBS Manufacturing PMI
Oct 49.3 50.1 50 50.1
2026-11-30 01:30 AM
NBS Manufacturing PMI
Nov 49.3


Related Last Previous Unit Reference
NBS Manufacturing PMI 49.30 50.10 points Oct 2026
Industrial Capacity Utilization 73.10 73.00 percent Sep 2026
Cement Production 14401.00 12908.00 Ten Thousands of Tonnes Sep 2026
Changes in Inventories 15366.10 11183.40 CNY Hundred Million Dec 2025
Industrial Profits (YTD) YoY 6033740.00 5271980.00 CNY Million Sep 2026
Electricity Production 829400.00 943800.00 Gigawatt-hour Sep 2026
Industrial Production YoY 5.50 5.20 percent Sep 2026
Industrial Production Mom 0.61 0.54 percent Sep 2026
Leading Economic Index 147.70 148.20 points Sep 2026
Manufacturing Production YoY 6.00 6.10 percent Sep 2026
Mining Production 1.30 -1.40 percent Sep 2026
New Orders 49.40 50.50 points Oct 2026


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
49.30 50.10 59.20 35.70 2005 - 2026 points Monthly

News Stream
China Manufacturing Unexpectedly Weakens
China’s official NBS Manufacturing PMI fell to 49.3 in October 2026 from 50.1 in September, missing market expectations of 50.0 and marking its lowest reading since July. The latest result pointed to subdued domestic demand as the boost from the Golden Week holiday waned, while overseas demand also softened despite continued resilience in AI-related trade. Both output (49.3 vs 50.1 in September) and export orders (48.7 vs 50.0) slipped into contraction, while new orders (49.4 vs 50.5) and purchasing activity (48.9 vs 51.0) declined for the first time in three months. At the same time, employment continued to shrink (48.4 vs 48.4), while delivery times were little changed (50.2 vs 50.1). On the price front, input cost inflation eased (56.8 vs 60.8), as did output price growth (51.7 vs. 54.0). Finally, business confidence dipped to a seven-month low (53.4 vs 53.8).
2026-10-31
China Factory Activity Returns to Growth
China’s official NBS Manufacturing PMI rose to 50.1 in September 2026 from 49.8 in August, in line with market expectations. It was the first expansion in factory activity since June, driven by continued growth in demand. Output growth accelerated to a nine-month high (51.7 vs 50.4 in August), while new orders continued to increase, though at a slightly slower pace (50.5 vs 50.6). Meanwhile, employment continued to decline (48.4 vs 48.7). Raw material inventories continued to decline (48.2 vs. 48.1), while supplier delivery times were steady at 50.1. Meanwhile, foreign orders continued to decline (49.2 vs. 48.6), while purchasing activity rose at a faster pace (51.0 vs 50.5). Price pressures intensified, with both input costs (60.8 vs 56.6) and output prices (54.0 vs 50.4) accelerating to five-month highs. Finally, business sentiment remained at a five-month low (53.8), suggesting that firms remained cautious about the near-term outlook
2026-09-30
China Manufacturing Contraction Eases in August
China’s official NBS Manufacturing PMI rose to 49.8 in August 2026 from 49.2 in July, beating market expectations of 49.7. The reading marked a second consecutive month of contraction, although the pace eased amid a recovery in demand. Output (50.4 vs. 49.9 in July) and new orders (50.6 vs. 48.5) both returned to expansionary territory, while employment remained in contraction, with the sub-index falling to 48.7 from 49.0. Raw material inventories also continued to decline (48.1 vs. 48.3), while supplier delivery times shortened for the first time in seven months (50.1 vs. 49.5). Price pressures intensified, with input costs rising at their fastest pace in three months (56.6 vs. 53.2). Output prices also returned to growth (50.4 vs. 47.8) after declining in July. Meanwhile, business sentiment weakened to a five-month low of 53.8, down from 54.1, suggesting that firms remained cautious about the near-term outlook.
2026-08-31