Description
China Composite PMI is jointly published by the National Bureau of Statistics (NBS) of China and the China Federation of Logistics & Purchasing (CFLP). This indicator primarily measures changes in overall output across both manufacturing and non-manufacturing sectors. A Composite PMI reading above 50 indicates an expansion in economic output, while a reading below 50 indicates a contraction, making it an important gauge of the overall health of the economy.
Note: The Composite PMI is calculated as a weighted average of the Manufacturing Production Index and the Non-Manufacturing Business Activity Index, with the weights corresponding to the respective shares of manufacturing and non-manufacturing in GDP.