The Official NBS Manufacturing PMI in China fell to 49.2 in February 2019 from 49.5 in January and missing market expectations of 49.5. The latest reading pointed to the third straight month of contraction in the manufacturing sector and the steepest since February 2016, amid a series of Lunar New Year holidays. Output shrank for the first time since January 2009, during the depths of the global crisis (49.5 vs 50.9 in December). Also, export sales fell for the ninth straight month, and at a faster rate, with the sub-index being at its lowest since February 2009 (45.2 vs 46.9); and employment fell further (47.5 vs 47.8). Meantime, new orders grew for the first time since November 2018 (50.6 vs 49.6). On the price front, input prices rose sharply, which was the first increase in three months (51.9 vs 46.3); while output charges went up noticeably (48.5 vs 44.5). Finally, business sentiment strengthened to its highest in four months (56.2 vs 52.5). Business Confidence in China averaged 51.89 Index Points from 2005 until 2019, reaching an all time high of 59.20 Index Points in April of 2008 and a record low of 38.80 Index Points in November of 2008.

Business Confidence in China is expected to be 51.60 Index Points by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate Business Confidence in China to stand at 50.90 in 12 months time. In the long-term, the China NBS Manufacturing PMI is projected to trend around 51.00 Index Points in 2020, according to our econometric models.

China NBS Manufacturing PMI
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Calendar GMT Actual Previous Consensus TEForecast
2018-11-30 01:00 AM NBS Manufacturing PMI 50 50.2 50.2 50.2
2018-12-31 01:00 AM NBS Manufacturing PMI 49.4 50 49.9 50
2019-01-31 01:00 AM NBS Manufacturing PMI 49.5 49.4 49.3 49.8
2019-02-28 01:00 AM NBS Manufacturing PMI 49.2 49.5 49.5 49.8
2019-03-31 01:00 AM NBS Manufacturing PMI 49.2 49.5 49.6
2019-04-30 01:00 AM NBS Manufacturing PMI 50.6
2019-05-31 01:00 AM NBS Manufacturing PMI 49.9


China Business Last Previous Highest Lowest Unit
Business Confidence 49.20 49.50 59.20 38.80 Index Points [+]
Services PMI 51.10 53.60 54.70 50.00 Index Points [+]
Non Manufacturing PMI 54.30 54.70 62.20 50.80 percent [+]
Manufacturing PMI 49.90 48.30 52.30 47.20 [+]
Industrial Production 5.30 5.30 29.40 -21.10 percent [+]
Industrial Production Mom 0.43 0.43 1.32 0.13 percent [+]
Manufacturing Production 5.60 5.60 11.40 5.50 percent [+]
New Orders 50.60 49.60 65.10 32.30 Index Points [+]
Changes in Inventories 14186.00 11054.00 14186.00 3.00 CNY HML [+]
Total Vehicle Sales 1480000.00 2367300.00 3060271.00 88416.00 [+]
Car Production 1140300.00 1995087.00 2669100.00 215533.00 Units [+]
Car Registrations 1219500.00 2021089.00 2672300.00 213534.00 [+]
Internet Speed 7583.32 6295.74 7583.32 635.70 KBps [+]
IP Addresses 98862937.00 104032031.00 119094184.00 28818357.00 IP [+]
Steel Production 75013.00 76121.00 82552.00 4918.00 Thousand Tonnes [+]
Mining Production 0.30 0.30 7.90 -3.80 percent [+]
Capacity Utilization 76.00 76.50 78.00 72.90 percent [+]
Competitiveness Index 72.61 71.76 72.61 4.55 Points [+]
Competitiveness Rank 28.00 28.00 34.00 26.00 [+]
Composite Pmi 50.70 50.90 53.70 48.00 [+]
Cement Production 18394.00 20521.00 23427.00 781.50 Ten Thousands of Tonnes [+]
Corruption Index 39.00 41.00 41.00 21.60 Points [+]
Corruption Rank 87.00 77.00 100.00 40.00 [+]
Corporate Profits 6635140.00 6116880.00 7518710.00 1617.00 CNY Million [+]
Ease of Doing Business 46.00 78.00 99.00 46.00 [+]
Electricity Production 620000.00 554300.00 640500.00 41760.00 Gigawatt-hour [+]


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. . This page provides - China Business Confidence - actual values, historical data, forecast, chart, statistics, economic calendar and news. China NBS Manufacturing PMI - actual data, historical chart and calendar of releases - was last updated on March of 2019.

Actual Previous Highest Lowest Dates Unit Frequency
49.20 49.50 59.20 38.80 2005 - 2019 Index Points Monthly




Country Last Previous
Australia 2.00 Feb/19
Brazil 61.90 Mar/19
Canada 50.60 Feb/19
China 49.20 Feb/19
Euro Area 0.69 Feb/19
France 103.00 Feb/19
Germany 99.60 Mar/19
India 116.20 Mar/19
Indonesia 104.71 Dec/18
Italy 101.70 Feb/19
Japan 19.00 Dec/18
Mexico 51.30 Feb/19
Netherlands 6.30 Feb/19
Russia -2.00 Feb/19
Saudi Arabia 3.00 Jun/16
Singapore -14.00 Dec/18
South Africa 28.00 Mar/19
South Korea 69.00 Feb/19
Spain -4.90 Feb/19
Switzerland 92.40 Feb/19
Turkey 102.10 Mar/19
United Kingdom -23.00 Mar/19
United States 54.20 Feb/19


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