Manufacturing PMI China
Event Date: Wednesday, August 31, 2022
Event Time: 01:30 CET
Chinese Manufacturing to Remain in Recession
Updated Sunday, August 28, 2022
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The manufacturing sector has been slowing in China last year as the rest of the global economy weakened. In December, this sector of the Chinese economy fell into contraction since the PMI indicator fell below the 50 level, as the report released in January showed. It weakened further in January, with the Chinese Manufacturing PMI indicator falling to 49.5 points. We saw a further contraction in February to 49.2 points and this sector has been shrinking since then. August is expected at 49.3 points, which still means contraction.
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About Manufacturing PMI China
Level of a diffusion index based on surveyed purchasing managers in the manufacturing industry. It is released monthly, usually on the first business day after the month ends. It's a leading indicator of economic health - businesses react quickly to market conditions, and their purchasing managers hold perhaps the most current and relevant insight into the company's view of the economy. The survey of about 430 purchasing managers asks respondents to rate the relative level of business conditions including employment, production, new orders, prices, supplier deliveries, and inventories
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