The official NBS Manufacturing PMI for China rose to 50.1 in November 2021 from 49.2 a month earlier, beating market estimates of 49.6. This was the first growth in factory activity since August, amid easing power shortage and a sharp drop in some raw material prices. Both output (52.0 vs 48.4 in October) and buying levels (50.2 vs 48.9) increased for the first time in three months, while new orders (49.4 vs 48.8), export sales (48.5 vs 46.6 ), and employment (48.9 vs 48.8) all fell at slower rates. Meantime, input cost rose much softer (52.9 vs 72.1), amid a plunge in selling prices (48.9 vs 61.1). Looking ahead, sentiment improved slightly (53.8 vs 53.6). "A series of recent policy measures to strengthen the guarantee of energy supplies and stabilize market prices have shown results," said NBS senior statistician Zhao Qinghe in a statement. With a recovery in the global economy and the approaching Christmas season, foreign trade has also continued to improve, he added. source: National Bureau of Statistics of China

Business Confidence in China averaged 51.60 points from 2005 until 2021, 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 December of 2021.

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 52.00 points in 2022 and 51.00 points in 2023, according to our econometric models.

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China NBS Manufacturing PMI


Calendar GMT Actual Previous Consensus TEForecast
2021-10-31 01:00 AM Oct 49.2 49.6 49.7 50
2021-11-30 01:00 AM Nov 50.1 49.2 49.6 49.8
2021-12-31 01:00 AM Dec 50.1


Related Last Previous Unit Reference
Business Confidence 50.10 49.20 points Nov/21
Non Manufacturing PMI 52.30 52.40 percent Nov/21
Industrial Production Mom 0.39 0.05 percent Oct/21
Industrial Production 3.50 3.10 percent Oct/21
Manufacturing Production 2.50 2.40 percent Oct/21
New Orders 48.80 49.30 points Oct/21
Changes in Inventories 6718.00 6609.00 CNY HML Dec/20
Leading Economic Index 96.75 99.60 points Aug/21
Corporate Profits 7164990.00 6344080.00 CNY Million Oct/21
Cement Production 20140.24 20503.81 Ten Thousands of Tonnes Oct/21
Mining Production 6.00 3.20 percent Oct/21
Electricity Production 675120.00 738350.00 Gigawatt-hour Sep/21
Capacity Utilization 77.10 78.40 percent Sep/21

News Stream
China Manufacturing Sector Stabilizes in November
The official NBS Manufacturing PMI for China rose to 50.1 in November 2021 from 49.2 in October, beating market consensus of 49.6. The reading pointed to a stabilization of the sector following two consecutive months of contraction, amid easing power shortage and a sharp drop in some raw material prices. Both output (52.0 vs 48.4 in October) and buying levels (50.2 vs 48.9) increased for the first time in three months, while new orders (49.4 vs 48.8), export sales (48.5 vs 46.6 ), and employment (48.9 vs 48.8) all fell at slower rates. Meanwhile, input cost inflation slowed sharply (52.9 vs 72.1) and selling prices dropped (48.9 vs 61.1). Looking ahead, sentiment improved slightly (53.8 vs 53.6). "A series of recent policy measures to strengthen the guarantee of energy supplies and stabilize market prices have shown results," said NBS senior statistician Zhao Qinghe in a statement.
2021-11-30
China Manufacturing Shrinks for 2nd Month: NBS
The official NBS Manufacturing PMI for China unexpectedly fell to 49.2 in October 2021 from 49.6 a month earlier and missing market expectations of 49.7. This was the second straight month of contraction in factory activity, with output (48.4 vs 49.5 in September), new orders (48.8 vs 49.3), and export sales (46.6 vs 46.2) all declining, amid the Delta variant of COVID-19 outbreaks, higher material cost, power shortage, and a campaign to reduce carbon emissions. Firms also reduced further their buying activities (48.9 vs 49.7), while employment dropped for the seventh straight month and was at a steeper rate (48.8 vs 49.0). On the price front, input cost rose the most in five months (72.1 vs 63.5), amid a jump in selling prices (61.1 vs 56.4). Looking ahead, sentiment weakened for the eighth month in a row (53.6 vs 56.4).
2021-10-31
China Manufacturing Unexpectedly Shrinks: NBS
The official NBS Manufacturing PMI for China unexpectedly was at 49.6 in September 2021, compared with market expectations and August's figure of 50.1. This was the first contraction in factory activity since February 2020, with output (49.5 vs 50.9 in August), new orders (49.3 vs 49.6), and export sales (46.2 vs 46.7) all declining, amid the Delta variant of COVID-19 outbreaks, higher material cost, production bottlenecks, and more recently, electricity rationing. Buying levels were also reduced (49.7 vs 50.3), and employment dropped for the sixth straight month and was at a steeper rate (49.0 vs 49.6). On the price front, both input cost (63.5 vs 61.3) and selling prices (56.4 vs 53.4) went up at faster paces. Looking ahead, sentiment weakened for the seventh month in a row (56.4 vs 57.5).
2021-09-30

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. .