Purchasing managers' index (PMI) · China
China NBS Non Manufacturing PMI
The China NBS Non Manufacturing PMI is a monthly survey of purchasing managers in China that measures whether business activity, new orders, employment and prices are rising or falling.
- Importance
- Medium
- Publié
- Monthly
- Prochaine publication
- Devise
- CNH · Chinese yuan (renminbi)
- Banque centrale
- The People's Bank of China
Derniers chiffres
La dernière publication, pour OCT, est parue le 2026-10-31 et s’est établie à 49.7. C’est en dessous du consensus de 50.5. C’est moins que 50.2 la fois précédente.
A weaker figure than expected points to slowing activity: the Chinese yuan (renminbi) tends to soften and markets price in lower rates.
Sur les 12 dernières publications, la valeur est allée de 49.0 à 50.2, avec une moyenne de 49.7.
| Publié | Pour | Réel | Consensus | Précédent |
|---|---|---|---|---|
| 31 Oct 2026 | OCT | 49.7 | 50.5 | 50.2 |
| 30 Sep 2026 | SEP | 50.2 | 49.3 | 49.0 |
| 31 Aug 2026 | AUG | 49.0 | 49.5 | 49.0 |
| 31 Jul 2026 | JUL | 49.0 | 50.0 | 50.2 |
| 30 Jun 2026 | JUN | 50.2 | 49.9 | 50.1 |
| 31 May 2026 | MAY | 50.1 | 49.5 | 49.4 |
| 30 Apr 2026 | APR | 49.4 | 49.9 | 50.1 |
| 31 Mar 2026 | MAR | 50.1 | 49.9 | 49.5 |
| 4 Mar 2026 | FEB | 49.5 | 49.8 | 49.4 |
| 31 Jan 2026 | JAN | 49.4 | 50.3 | 50.2 |
| 31 Dec 2025 | DEC | 50.2 | 49.8 | 49.5 |
| 30 Nov 2025 | NOV | 49.5 | 50.0 | 50.1 |
Pourquoi c’est important
PMIs are among the first data published for each month, weeks before official output figures, and they have a good record of tracking GDP. A reading above 50 means growth, below 50 contraction. Flash (preliminary) PMIs for the major economies can move currencies and stock indices strongly.
Mode de calcul
Companies answer whether each item (output, new orders, employment, delivery times, stocks of purchases) is higher, the same or lower than a month earlier. Each answer set becomes a diffusion index; the manufacturing headline is a weighted average of five of them, the services headline is the activity question.
Diffusion index = % higher + ½ × % same
Manufacturing PMI = 0.30 new orders + 0.25 output + 0.20 employment + 0.15 delivery times (inverted) + 0.10 stocksCe que signifient les variations
- Above 50 and rising: an accelerating economy, supportive for the Chinese yuan (renminbi) and local stocks.
- The composite PMI combines manufacturing and services and is the best single guide to GDP.
- Look at new orders (future activity) and prices charged (inflation pressure).
Supérieur aux attentes : A stronger figure than expected points to a healthier economy: it usually supports the Chinese yuan (renminbi) and local stocks, and can push bond yields up.
Inférieur aux attentes : A weaker figure than expected points to slowing activity: the Chinese yuan (renminbi) tends to soften and markets price in lower rates.
Un bref historique
The PMI method comes from the US purchasing managers' survey of the 1940s; the PMIs now produced for more than 40 countries started in the UK in 1992 and spread across Europe and Asia in the following decades.
Questions
What is the China NBS Non Manufacturing PMI?
The China NBS Non Manufacturing PMI is a monthly survey of purchasing managers in China that measures whether business activity, new orders, employment and prices are rising or falling.
What was the latest China NBS Non Manufacturing PMI?
49.7 for OCT, published on 31 October 2026 (consensus 50.5, previous 50.2).
When is the next China NBS Non Manufacturing PMI?
On Monday 30 November 2026 at 01:30 UTC.
Why is 50 the key level of a PMI?
It is the point where as many companies report improvement as report deterioration: above it, activity is growing.
Contenu éducatif uniquement, pas un conseil en investissement. Les chiffres sont les résultats publiés tels qu’enregistrés par notre calendrier ; les réactions de marché décrites sont typiques, non garanties.