The Official NBS Manufacturing PMI in China unexpectedly rose to 50.9 in June 2020 from 50.6 in the previous month and compared with market estimates of 50.4. This was the fourth straight month of increase in factory activity and the strongest since March, as the economy continues to recover after the government lifted strict COVID-19 lockdowns and ramped up investment. Output grew the most in three months (53.9 vs 53.2 in May), while both new orders (51.4 vs 50.9) and buying levels (51.8 vs 50.8) went up for the fourth month in a row and at a faster pace. Meantime, both export sales (42.6 vs 35.3) and employment shrank at softer rates (49.1 vs 49.4), with supplier's delivery time was unchanged (at 50.5). Prices data showed input cost advanced for the second month running and at a faster pace (56.8 vs 51.6), while selling prices rose following a fall in May (52.4 vs 48.7). Looking ahead, sentiment eased but remained solid (57.5 vs 57.9).
Business Confidence in China averaged 51.66 points from 2005 until 2020, 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 July of 2020. source: National Bureau of Statistics of China
Business Confidence in China is expected to be 51.10 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 50.70 in 12 months time. In the long-term, the China NBS Manufacturing PMI is projected to trend around 52.00 points in 2021 and 51.00 points in 2022, according to our econometric models.