China Business Confidence

Last Release

Dec 31, 2025

Actual

50.1

Units In

Points

49.2

Frequency

Monthly

Next Release

Jan 31, 2026

Time to Release

29 Days 10 Hours

Highest	Lowest	Average	Date Range	Source
59.2 Apr 2008	35.7 Feb 2020	51.21 Points	2005-2025	National Bureau of Statistics of China

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. .

Latest Updates

China’s official NBS Manufacturing PMI unexpectedly rose to 50.1 in December 2025, surpassing both November’s reading and expectations of 49.2. It marked the first expansion in factory activity since March, with output (51.7 vs 50.0) and purchasing activity (51.1 vs 49.5) both growing for the first time in three months, amid the government's efforts to boost demand. At the same time, new orders rose for the first time since June and at the fastest pace in nine months (50.8 vs 49.2 in November), while foreign sales fell at the slowest pace in nine months (49.0 vs 47.6). Meanwhile, employment remained weak (48.2 vs 48.4), and delivery times were broadly steady (50.2 vs 50.1). On the inflation front, input costs rose for the sixth consecutive month, albeit at a softer rate (53.1 vs 53.6). Selling prices continued to fall, though at the slowest rate in four months (48.9 vs 48.2). Looking ahead, business confidence improved (55.5 vs 53.1)