China Business Confidence

Last Release

Jun 30, 2025

Actual

49.7

Units In

Points

49.5

Frequency

Monthly

Next Release

Jul 31, 2025

Time to Release

30 Days 1 Hours

Highest	Lowest	Average	Date Range	Source
59.2 Apr 2008	35.7 Feb 2020	51.25 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 climbed to 49.7 in June 2025 from May’s 49.5, matching expectations while marking the third consecutive month of contraction in factory activity. It was the softest contraction in the sequence, with output rising the most in three months (51.0 vs 50.7 in May), supported by a trade deal with the US and Beijing’s ongoing efforts to stimulate domestic demand and bolster the sluggish economy. Additionally, new orders grew for the first time in three months (50.2 vs 49.8), while foreign sales fell at the slowest rate in the same period (47.7 vs 47.5). A similar trend was seen in buying activity, which rose for the first time since March (50.2 vs 47.6). Meanwhile, employment fell at a slightly faster pace (47.9 vs 48.1), and delivery times lengthened modestly (50.2 vs 50.0). On the price front, both input costs (48.4 vs 46.9) and selling prices (46.2 vs 44.7) fell at a slower pace. Looking ahead, sentiment weakened to a nine-month low (52.0 vs 52.5).