China Business Confidence

Last Release

Oct 31, 2025

Actual

Units In

Points

49.8

Frequency

Monthly

Next Release

Nov 30, 2025

Time to Release

28 Days 4 Hours

Highest	Lowest	Average	Date Range	Source
59.2 Apr 2008	35.7 Feb 2020	51.22 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 fell to 49.0 in October 2025, down from 49.8 in September and below forecasts of 49.6, marking the lowest level since April. Efforts to boost overseas demand have largely intensified price competition rather than increased sales. The decline also marked the seventh consecutive month of contraction, with output shrinking for the first time in six months (49.7 vs 51.9 in September) and new orders declining at a faster pace (48.8 vs 49.7). Foreign sales fell at the steepest rate since April (45.9 vs 47.8), and buying levels declined the most in five months (49.0 vs 51.6). Employment also contracted at a slightly faster pace (48.3 vs 48.5), while delivery times lengthened the most in five months (50.0 vs 50.8). On the price front, input cost inflation eased to a three-month low (52.5 vs 53.2), while selling prices fell at the steepest pace since June (47.5 vs 48.2). Looking ahead, business confidence weakened to a three-month low (52.8 vs 54.1).