China Manufacturing PMI

Last Release

Jul 31, 2024

Actual

49.8

Units In

Points

51.8

Frequency

Monthly

Next Release

N/A

Time to Release

N/A

Highest	Lowest	Average	Date Range	Source
54.9 Nov 2020	40.3 Feb 2020	50.11 Points	2011-2024	Markit Economics

In China, the Caixin Manufacturing PMI Purchasing Managers' Index measures the performance of the manufacturing sector and is derived from a survey of private 430 industrial 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 Caixin China General Manufacturing PMI rose to 50.3 in October 2024 from 49.3 in the prior month, beating market forecasts of 49.7 while marking a shift to an expansion in factory activity after a series of stimulus measures from Beijing in late September. Output grew at the fastest pace in four months, driven by a renewed rise in new orders and increased buying levels. However, export orders continued to fall, albeit at a slower rate. Employment shrank the most in almost 1-1/2 years, with unfinished work growing due to a reduction in workforce capacity. On prices, input cost rose after falling in the previous two months, reflecting rising material costs. Consequently, selling prices increased for the first time since June as firms passed on the higher input costs. Despite this, export charges continued to fall as exporters faced heightened competition. Meantime, freight costs fell for some exports but lead times lengthened again. Finally, confidence notched a five-month peak.