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 source: National Bureau of Statistics of China

Business Confidence in China increased to 50.10 points in September from 49.80 points in August 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 October of 2026.

Business Confidence in China increased to 50.10 points in September from 49.80 points in August of 2026. Business Confidence in China is expected to be 50.00 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
2026-08-31 01:30 AM
NBS Manufacturing PMI
Aug 49.8 49.2 49.7 49.9
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 50.1


Related Last Previous Unit Reference
NBS Manufacturing PMI 50.10 49.80 points Sep 2026
Industrial Capacity Utilization 73.00 73.60 percent Jun 2026
Cement Production 12908.00 12671.00 Ten Thousands of Tonnes Aug 2026
Changes in Inventories 15366.10 11183.40 CNY Hundred Million Dec 2025
Industrial Profits (YTD) YoY 5271980.00 4582060.00 CNY Million Aug 2026
Electricity Production 943800.00 943900.00 Gigawatt-hour Aug 2026
Industrial Production YoY 5.20 4.50 percent Aug 2026
Industrial Production Mom 0.54 0.11 percent Aug 2026
Leading Economic Index 148.20 148.30 points Aug 2026
Manufacturing Production YoY 6.10 5.50 percent Aug 2026
Mining Production -1.40 -4.20 percent Aug 2026
New Orders 50.50 50.60 points Sep 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
50.10 49.80 59.20 35.70 2005 - 2026 points Monthly

News Stream
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
China Factory Activity Unexpectedly Contracts
China’s official NBS Manufacturing PMI unexpectedly declined to 49.2 in July 2026 from 50.3 in the previous month, below market expectations of 50.0. It was the first contraction in factory activity since February, amid persistently weak domestic and external demand and elevated production costs. Output shrank for the first time in five months (49.9 vs 51.4 in June), while new orders contracted after expanding in the previous month (48.5 vs 51.2), with foreign orders also returning to contraction (49.6 vs 50.1). However, employment remained subdued (49.0 vs 48.5), while purchasing activity returned to contraction (49.4 vs 51.4) and supplier delivery times lengthened further (49.5 vs 49.9). On the price front, input cost inflation eased but remained elevated (53.2 vs 54.2), while output prices fell by the most in nine months (47.8 vs 48.2). Finally, business sentiment weakened slightly (54.1 vs 54.3).
2026-07-31