China Business Confidence

Last Release

Aug 31, 2025

Actual

49.4

Units In

Points

49.3

Frequency

Monthly

Next Release

Sep 30, 2025

Time to Release

28 Days 2 Hours

Highest	Lowest	Average	Date Range	Source
59.2 Apr 2008	35.7 Feb 2020	51.24 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 inched up to 49.4 in August 2025 from July’s three-month low of 49.3, marking the fifth straight month of drop in factory activity and falling short of market estimates of 49.5. Output grew for the fourth consecutive month and at the fastest pace since March (50.8 vs. 50.5 in July), lifted by the extension of the tariff truce between Washington and Beijing for another 90 days. Also, buying levels rose the most in five months. Still, overall demand remained sluggish, with new orders (49.5 vs. 49.4) showing little improvement despite fresh consumer subsidies and export sales (47.2 vs. 47.1) continuing to falll amid weak overseas demand and lingering trade barriers. Employment stayed soft (47.9 vs. 48.0), due to job uncertainty. Delivery times shortened to a six-month high (50.5 vs. 50.3). On prices, input costs hit their highest since October 2024, while a decline in selling prices eased. Finally, confidence notched a six-month peak (50.5 vs. 50.3).