The Caixin China General Composite PMI rose to 47.6 in April 2020 from 46.7 in the previous month, still signalling the third straight monthly decline in total business activity due to the negative impact of the COVID-19 pandemic on business operations and demand. Total new work fell again, which was predominantly driven by the steepest decline in export orders on record as clients globally faced more restrictions to halt the spread of the virus. Consequently, firms continued to cut their staff numbers, and at a quicker rate than in March. On the price front, operating expenses fell slightly after increasing in March. At the same time, firms continued to cut their prices charged in hopes of attracting sales. "We expect a macroeconomic stimulus package to launch soon, providing aid for businesses, safeguarding employment and boosting investment and consumption," Zhengsheng Zhong, chief economist at CEBM Group, said.
Composite Pmi in China averaged 51.14 points from 2013 until 2020, reaching an all time high of 53.70 points in January of 2018 and a record low of 27.50 points in February of 2020. This page provides - China Composite Pmi- actual values, historical data, forecast, chart, statistics, economic calendar and news. China Composite Pmi - data, historical chart, forecasts and calendar of releases - was last updated on May of 2020. source: Markit Economics
Composite Pmi in China is expected to be 45.00 points by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate Composite Pmi in China to stand at 53.00 in 12 months time. In the long-term, the China Composite Pmi is projected to trend around 51.60 points in 2021 and 50.60 points in 2022, according to our econometric models.