China NBS Manufacturing PMI
Business Confidence in China increased to 49.60 points in May from 47.40 points in April of 2022. Business Confidence in China averaged 51.54 points from 2005 until 2022, reaching an all time high of 59.20 points in April of 2008 and a record low of 35.70 points in February of 2020. 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.
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