China PMIs
China Manufacturing PMI for October 2025 is a poor 49.0,
- in contraction for the seventh month in row
- 6-month low
- expected 49.6, prior 49.8%
Non-manufacturing 50.1
- expected 50.1, prior 50.0
Composite 50.0
- prior 50.6
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China has two primary Purchasing Managers' Index (PMI) surveys - the official PMI released by the National Bureau of Statistics (NBS) and the Rating Dog China PMI published by Markit / S&P Global.
- The official PMI survey covers large and state-owned companies, while the Caixin PMI survey covers more small and medium-sized enterprises. As a result, the Caixin PMI is considered to be a more reliable indicator of the performance of China's private sector.
- Another difference between the two surveys is their methodology. The Caixin PMI survey uses a broader sample of companies than the official survey. Despite these differences, the two surveys often provide similar readings on China's manufacturing sector.
