Description
China's Manufacturing Purchasing Managers' Index (PMI) is compiled and published by the National Bureau of Statistics (NBS). This index is based on monthly surveys of purchasing managers from approximately 3,200 manufacturing enterprises and is a crucial indicator of the overall performance and health of the manufacturing sector in China. A PMI reading above 50% indicates expansion, while a reading below 50% indicates contraction.
The Manufacturing PMI is calculated using five weighted categories: New Orders (30%), Production (25%), Employment (20%), Supplier Delivery Time (15%) and Inventory (10%).
The data is typically released on the last working day of each month, providing insights into the manufacturing activities of that month.