China Business Confidence

Last Release

Mar 31, 2024

Actual

50.8

Units In

Points

49.1

Frequency

Monthly

Next Release

Apr 30, 2024

Time to Release

28 Days 23 Hours

Highest	Lowest	Average	Date Range	Source
59.2 Apr 2008	35.7 Feb 2020	51.35 Points	2005-2024	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

The official NBS Manufacturing PMI in China was up to 50.8 in March 2024 from 49.1 a month earlier, above market forecasts of 49.9. It was the first growth in factory activity in 6 months and the steepest pace for a year, amid continued efforts from Beijing to spur an economic upswing. Output rose following a fall in the prior month (52.2 vs 49.8 in February); and new orders increased for the first time since last September, with the growth rate the fastest in a year (53.0 vs 49.0). Also, foreign sales picked up after falling in the prior 11 months (51.3 vs 46.3). Buying levels gained, reversing from drops in the prior 5 months (52.7 vs 48,0). At the same time, employment fell at a softer rate (48.1 vs 47.5). Further, delivery time shortened after lengthening in February (50.6 vs 48.8). On prices, input cost inflation accelerated to a 3-month top (50.5 vs 50.1) while a decline in output prices quickened (47.4 vs 48.1). Finally, sentiment strengthened to a 3-month peak (55.6 vs 54.2).