China Non Manufacturing PMI

Last Release

Dec 31, 2024

Actual

52.2

Units In

Frequency

Monthly

Next Release

N/A

Time to Release

N/A

Highest	Lowest	Average	Date Range	Source
62.2 May 2007	29.6 Feb 2020	54.57 %	2007-2024	National Bureau of Statistics of China

In China, the Non-Manufacturing purchasing managers index survey is based on data collected from a representative panel of 1200 enterprises from the non-manufacturing sector. The survey includes ten questions on business activity, new orders, new export orders, in hand orders index, stock, intermediate input price, subscription price, employment, supplier delivery time, and business activities expectation. For each question, the diffusion index is calculated. As there’s no integrated PMI, the business activity index is usually used to reflect the overall changes in non-manufacturing sector. A PMI reading above 50 percent indicates expansion from the previous month, while below 50 indicates contraction.

Latest Updates

China's official NBS Non-Manufacturing PMI dropped to 50.2 in January 2025, down from December's nine-month high of 52.2, reflecting a slowdown in activity ahead of the Spring Festival, also known as the Lunar New Year. The decline was driven by a sharper contraction in domestic orders (46.4 vs 48.7 in December). Also, foreign sales contracted after stabilizing in the prior month (44.6 vs 50.0), underscoring global trade uncertainties as Donald Trump returned to the White House and threatened higher tariffs for many countries, including China. Meanwhile, employment continued to decline, though its rate of decrease slowed (46.7 vs 45.8). In addition, delivery times improved marginally (51.3 vs 51.5). On the cost front, input prices rose for the second consecutive month (50.4 vs 50.5), while a decline in selling prices deepened (48.6 vs 48.8). Lastly, confidence weakened to a three-month low (56.7 vs 57.5).