The Caixin China General Manufacturing PMI increased to 49.1 in May of 2022 from April's 26-month low of 46.0 and beating market forecasts of 48.0. That said, the latest figure was the third straight month of fall in factory activity, amid stringent COVID-19 control measures. Both output and new orders fell at a softer rate amid further declines in both export orders and employment. Meantime, further increase in backlogs of work increased further, amid ongoing disruptions due to the outbreaks. At the same time, firms continued to cut purchases, as firms looked to streamline stocks while delivery times lengthened sharply due to travel curbs. On prices, input cost inflation moderated for the second month in a row, while selling prices fell for the first time in 5 months, on efforts to stimulate client demand. Lastly, sentiment weakened to a five-month low amid concerns over the longevity of restrictions and Ukraine war. source: Markit Economics

Manufacturing PMI in China averaged 50.07 points from 2011 until 2022, reaching an all time high of 54.90 points in November of 2020 and a record low of 40.30 points in February of 2020. This page provides the latest reported value for - China Manufacturing PMI - plus previous releases, historical high and low, short-term forecast and long-term prediction, economic calendar, survey consensus and news. China Caixin Manufacturing PMI - data, historical chart, forecasts and calendar of releases - was last updated on June of 2022.

Manufacturing PMI in China is expected to be 50.50 points by the end of this quarter, according to Trading Economics global macro models and analysts expectations. In the long-term, the China Caixin Manufacturing PMI is projected to trend around 51.30 points in 2023 and 50.40 points in 2024, according to our econometric models.

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China Caixin Manufacturing PMI



Related Last Previous Unit Reference
Services PMI 41.40 36.20 points May 2022
Manufacturing PMI 48.10 46.00 points May 2022
Composite PMI 42.20 37.20 points May 2022

China Caixin Manufacturing PMI
In China, the Caixin Manufacturing PMI Purchasing Managers' Index measures the performance of the manufacturing sector and is derived from a survey of private 430 industrial 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
48.10 46.00 54.90 40.30 2011 - 2022 points Monthly

News Stream
China Manufacturing Shrinks at Softer Pace: Caixin
The Caixin China General Manufacturing PMI increased to 49.1 in May of 2022 from April's 26-month low of 46.0 and beating market forecasts of 48.0. That said, the latest figure was the third straight month of fall in factory activity, amid stringent COVID-19 control measures. Both output and new orders fell at a softer rate on the back of further declines in both export orders and employment. Meantime, backlogs of work increased further, linked to ongoing disruptions due to the outbreaks. At the same time, firms continued to cut purchases, as manufacturers looked to streamline stocks; while delivery times lengthened sharply due to travel curbs. On prices, input cost inflation moderated for the second month in a row, with selling prices falling for the first time in 5 months, on efforts to stimulate client demand. Lastly, sentiment weakened to a five-month low, reflecting concerns over the longevity of coronavirus restrictions and Ukraine war.
2022-06-01
China Manufacturing PMI Lowest in More than 2 Years
The Caixin China General Manufacturing PMI fell to a 26-month low of 46.0 in April of 2022 from March's reading of 48.1, below market forecasts of 47.0. The latest figure was also the third contraction in factory activity since the start of the year, as COVID-19 outbreaks took a toll on the economy. Both output and new orders fell at the second steepest pace since the survey began in early 2004, while export orders shrank at the sharpest rate in nearly two years. At the same time, firms significantly cut purchases; employment declined in eight of the last nine months, including April; while backlogs of work rose further. Delivery times lengthened at second-quickest rate on record, due to travel curbs and raw material shortages. On prices, input cost rose further but the rate of inflation eased; while selling prices rose modestly, on efforts to stay competitive and attract new business. Lastly, sentiment was subdued, amid concerns that the control measures would last too long.
2022-04-30
China Caixin Manufacturing PMI Drops to 25-Month Low
The Caixin China General Manufacturing PMI fell to 25-month low of 48.1 in March 2022 from February's reading of 50.4, missing market consensus of 50. The latest print was also the 2nd contraction in factory activity since the start of the year, amid measures to contain the COVID-19 outbreaks. Both output and new orders shrank the most since February 2020 and export sales dropped at the fastest pace in 22 months. Meanwhile, delivery times lengthened the most since last October, amid a deterioration in global transportation. At the same time, employment rose for the first time since last July, while backlogs of work gained for the 2nd month in a row. On prices, both input and output cost inflation accelerated to a five-month high. Lastly, confidence was at three-month low. " A variety of factors resonate, aggravating the downward pressure on China’s economy and underscoring the risk of stagflation," said Dr. Wang Zhe, Senior Economist at Caixin Insight Group.
2022-04-01