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China CNY

China NBS Manufacturing PMI

Impact:
High
Source: Markit Economics

Latest Release:

Date:
Surprise:
0.1
| CNY
Actual:
50.1
Forecast: 50
Previous/Revision:
50.1
Period: Apr
What Does It Measure?
The China NBS Manufacturing Purchasing Managers' Index (PMI) measures the health of China's manufacturing sector, specifically assessing production levels, new orders, supplier deliveries, and employment. A PMI value above 50 indicates expansion in the manufacturing industry, while a value below 50 signifies contraction, serving as a critical national indicator of economic activity.
Frequency
The NBS Manufacturing PMI is released monthly, with preliminary estimates typically published on the first business day of each month.
Why Do Traders Care?
Traders monitor the NBS Manufacturing PMI closely as it provides insights into China's manufacturing performance, which is pivotal for global economic stability. High PMI readings typically lead to a bullish sentiment in currencies like the CNY and assets such as commodities and equities, while lower figures may elicit bearish reactions in financial markets.
What Is It Derived From?
The NBS Manufacturing PMI is derived from a survey of purchasing managers across various manufacturing industries, evaluating their buying activities and expectations for future business conditions. The index employs a diffusion index methodology, which aggregates responses to various questions using weighted averages.
Description
The NBS Manufacturing PMI is considered a leading economic indicator, reflecting future economic activity based on current perceptions in the manufacturing sector. It focuses on several important sub-indicators such as production growth, inventory levels, and employment, which aid in forming a comprehensive view of the sector's performance and its potential trajectory.
Additional Notes
The NBS Manufacturing PMI often correlates with other significant indicators, including industrial production and exports, making it a valuable tool for understanding broader economic trends in China. As a leading indicator, it provides early signals about economic health, influencing forecasts for markets at both national and global levels.
Bullish or Bearish for Currency and Stocks
Higher than expected: Bullish for CNY, Bullish for Stocks. Lower than expected: Bearish for CNY, Bearish for Stocks.

Legend

High Potential Impact
This event has a strong potential to move markets significantly. If the 'Actual' value differs enough from the forecast or if the 'Previous' value is significantly revised, it signals new information that markets may rapidly adjust to.

Medium Potential Impact
This event may cause moderate market movement, especially if the 'Actual' deviates from the forecast or there's a notable revision to the 'Previous' value.

Low Potential Impact
This event is unlikely to affect market pricing unless there's an unexpected surprise or a major revision to prior data.

Surprise - Currency May Strengthen
Actual deviated from Forecast on a medium or high impact event and historically could strengthen the currency.

Surprise - Currency May Weaken
Actual deviated from Forcast on a medium or high impact event and historically could weaken the currency.

Big Surprise - Currency More Likely To Strengthen
'Actual' deviated from 'Forecast' more than 75% of historical deviations on a medium or high impact event and may likely strengthen the currency.

Big Surprise - Currency More Likely To Weaken
'Actual' deviated from 'Forecast' more than 75% of historical deviations on a medium or high impact event and may likely weaken the currency

Green Number Better than forecast for the currency (or previous revise better)
Red Number Worse than forecast for the currency (or previous revise better)
Hawkish Supports higher interest rates to fight inflation, strengthening the currency but weighing on stocks.
Dovish Favors lower rates to boost growth, weakening the currency but lifting stocks.
Date Time Actual Forecast Previous Surprise
May 01, 2015
50.1
 50
50.1
 0.1