China’s official NBS Manufacturing PMI inched down to 50.3 in April 2026 from March’s 12-month high of 50.4, but surpassed expectations of 50.1. This marked the second consecutive month of expansion, though at a softer pace, supported by stronger government spending earlier in the year. Output growth accelerated to the fastest pace in four months (51.5 vs 51.4 in March), while new orders eased (50.6 vs 51.6). External demand also strengthened, with new export orders rebounding (50.3 vs 49.1). Buying activity grew at the fastest pace in four months (51.1 vs 50.9), while employment remained in contraction (48.8 vs 48.6), and supplier delivery times stayed below the threshold (49.5 vs 49.5). Meanwhile, prices continued to rise, with both input costs (63.7 vs 63.9) and output prices (55.1 vs 55.4) easing. Business confidence improved to a four-month high (54.5 vs 53.2). source: National Bureau of Statistics of China

Business Confidence in China decreased to 50.30 points in April from 50.40 points in March of 2026. Business Confidence in China averaged 51.19 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 May of 2026.

Business Confidence in China decreased to 50.30 points in April from 50.40 points in March of 2026. Business Confidence in China is expected to be 50.40 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, according to our econometric models.



Calendar GMT Reference Actual Previous Consensus TEForecast
2026-03-31 01:30 AM
NBS Manufacturing PMI
Mar 50.4 49.0 50.1 49.8
2026-04-30 01:30 AM
NBS Manufacturing PMI
Apr 50.3 50.4 50.1 50.6
2026-05-31 01:30 AM
NBS Manufacturing PMI
May 50.3


Related Last Previous Unit Reference
NBS Manufacturing PMI 50.30 50.40 points Apr 2026
Industrial Capacity Utilization 73.60 74.90 percent Mar 2026
Cement Production 12310.00 17827.00 Ten Thousands of Tonnes Mar 2026
Changes in Inventories 10002.90 8740.00 CNY Hundred Million Dec 2024
Industrial Profits (YTD) YoY 1696040.00 1024560.00 CNY Million Mar 2026
Electricity Production 802480.00 1571790.00 Gigawatt-hour Mar 2026
Industrial Production YoY 5.70 6.30 percent Mar 2026
Industrial Production Mom 0.28 0.83 percent Mar 2026
Leading Economic Index 144.80 145.10 points Mar 2026
Manufacturing Production YoY 6.00 6.60 percent Mar 2026
Mining Production 5.70 6.10 percent Mar 2026
New Orders 50.60 51.60 points Apr 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
50.30 50.40 59.20 35.70 2005 - 2026 points Monthly

News Stream
China Manufacturing Growth Beats Estimates
China’s official NBS Manufacturing PMI inched down to 50.3 in April 2026 from March’s 12-month high of 50.4, but surpassed expectations of 50.1. This marked the second consecutive month of expansion, though at a softer pace, supported by stronger government spending earlier in the year. Output growth accelerated to the fastest pace in four months (51.5 vs 51.4 in March), while new orders eased (50.6 vs 51.6). External demand also strengthened, with new export orders rebounding (50.3 vs 49.1). Buying activity grew at the fastest pace in four months (51.1 vs 50.9), while employment remained in contraction (48.8 vs 48.6), and supplier delivery times stayed below the threshold (49.5 vs 49.5). Meanwhile, prices continued to rise, with both input costs (63.7 vs 63.9) and output prices (55.1 vs 55.4) easing. Business confidence improved to a four-month high (54.5 vs 53.2).
2026-04-30
China Manufacturing Expands at Fastest Pace in a Year
China’s official NBS Manufacturing PMI rose to 50.4 in March 2026 from 49.0 in February and exceeded expectations of 50.1. This marked the strongest reading since March last year and a rebound after two months of contraction, supported by stronger government spending early in the year and resilient exports driven by AI-related global demand. Output growth accelerated (51.4 vs 49.6 in February), while new orders rebounded sharply (51.6 vs 48.6). External demand also strengthened, with new export orders rising (49.1 vs 45.0). Buying activity increased (50.9 vs 48.2), while employment remained in contraction (48.6 vs 48.0), and supplier delivery times stayed below the threshold (49.5 vs 49.1). Meanwhile, prices surged, with both input costs (63.9 vs 54.8) and output prices (55.4 vs 50.6) hitting their highest levels in four years, driven by soaring crude prices and non-ferrous metals. Business confidence eased slightly (53.4 vs 53.2) but remained optimistic.
2026-03-31
China NBS Manufacturing PMI Falls to 4-Month Low
China’s official NBS Manufacturing PMI slipped to 49.0 in February 2026 from 49.3 in the previous month, slightly below market forecasts of 49.1 and marking the lowest print since October. It also represented the second straight month of contraction in factory activity, partly weighed by disruptions from the week-long Spring Festival holiday. New orders fell further (48.6 vs 49.2 in January), with foreign sales dropping more sharply (45.0 vs 47.8), highlighting persistent weakness in external demand. Buying levels also eased (48.2 vs 48.7), while employment remained subdued (48.0 vs 48.1). Supplier delivery times shortened (49.1 vs 50.1), suggesting improved logistics conditions. On the cost side, input prices rose for a seventh straight month, though the pace of increase moderated (54.8 vs 56.1). Output prices were unchanged (50.6 vs 50.6). Finally, business confidence rebounded from a six-month low to 53.2 (vs 52.6), indicating slightly improved sentiment despite ongoing contraction.
2026-03-04