The Official NBS Manufacturing PMI in China fell to 49.4 in December 2018 from 50.0 in the previous month and below market consensus of 49.9. The latest reading pointed to the first contraction in factory activity since July 2016 amid declines in new orders (49.7 vs 50.4 in November), new export sales (46.6 vs 47.0) and employment (48.0 vs 48.3), and a slowdown in output growth (50.8 vs 51.9). On the price front, input prices slumped (44.8 vs 50.3) and output charges declined for the second month in a row (43.3 vs 46.4). Looking ahead, business sentiment softened further (52.7 vs 54.2). Business Confidence in China averaged 51.92 Index Points from 2005 until 2018, 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 50.40 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 51.30 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
2018-09-30 01:00 AM NBS Manufacturing PMI 50.8 51.3 51.2 50.9
2018-10-31 01:00 AM NBS Manufacturing PMI 50.2 50.8 50.6 50.6
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 49.4
2019-02-28 01:00 AM NBS Manufacturing PMI
2019-03-31 01:00 AM NBS Manufacturing PMI 51.6


China Business Last Previous Highest Lowest Unit
Business Confidence 49.40 50.00 59.20 38.80 Index Points [+]
Services PMI 53.90 53.80 54.70 50.00 Index Points [+]
Non Manufacturing PMI 53.80 53.40 62.20 50.80 percent [+]
Manufacturing PMI 49.70 50.20 52.30 47.20 [+]
Industrial Production 5.40 5.90 29.40 -21.10 percent [+]
Industrial Production Mom 0.36 0.47 1.32 0.13 percent [+]
Manufacturing Production 5.60 6.10 11.40 5.60 percent [+]
New Orders 49.70 50.40 65.10 32.30 Index Points [+]
Changes in Inventories 14186.00 11054.00 14186.00 3.00 CNY HML [+]
Total Vehicle Sales 2661500.00 2547800.00 3060271.00 88416.00 [+]
Car Production 2122900.00 2002200.00 2669100.00 215533.00 Units [+]
Car Registrations 2173500.00 2046800.00 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 77621.00 82552.00 82552.00 4918.00 Thousand Tonnes [+]
Mining Production 2.30 3.80 7.90 -3.80 percent [+]
Capacity Utilization 76.50 76.80 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 52.20 51.90 53.70 48.00 [+]
Cement Production 20521.00 22043.20 23427.00 781.50 Ten Thousands of Tonnes [+]
Corruption Index 41.00 40.00 41.00 21.60 Points [+]
Corruption Rank 77.00 79.00 100.00 40.00 [+]
Corporate Profits 6116880.00 5521180.00 7518710.00 1617.00 CNY Million [+]
Ease of Doing Business 46.00 78.00 99.00 46.00 [+]
Electricity Production 533000.00 548300.00 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 January of 2019.

Actual Previous Highest Lowest Dates Unit Frequency
49.40 50.00 59.20 38.80 2005 - 2018 Index Points Monthly




Country Last Previous
Australia 3.00 Nov/18
Brazil 63.80 Dec/18
Canada 59.70 Dec/18
China 49.40 Dec/18
Euro Area 0.82 Dec/18
France 104.00 Dec/18
Germany 101.00 Dec/18
India 64.90 Jun/18
Indonesia 108.05 Sep/18
Italy 103.60 Dec/18
Japan 19.00 Dec/18
Mexico 49.20 Dec/18
Netherlands 7.50 Dec/18
Russia -8.00 Dec/18
Saudi Arabia 3.00 Jun/16
Singapore -1.00 Sep/18
South Africa 31.00 Dec/18
South Korea 71.00 Dec/18
Spain -2.70 Dec/18
Switzerland 96.30 Dec/18
Turkey 91.50 Dec/18
United Kingdom -16.00 Dec/18
United States 54.10 Dec/18


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