China Confiança do Empresário

China’s official NBS Manufacturing PMI unexpectedly rose to 50.1 in December 2025, surpassing both November’s reading and expectations of 49.2. It marked the first expansion in factory activity since March, with output (51.7 vs 50.0) and purchasing activity (51.1 vs 49.5) both growing for the first time in three months, amid the government's efforts to boost demand. At the same time, new orders rose for the first time since June and at the fastest pace in nine months (50.8 vs 49.2 in November), while foreign sales fell at the slowest pace in nine months (49.0 vs 47.6). Meanwhile, employment remained weak (48.2 vs 48.4), and delivery times were broadly steady (50.2 vs 50.1). On the inflation front, input costs rose for the sixth consecutive month, albeit at a softer rate (53.1 vs 53.6). Selling prices continued to fall, though at the slowest rate in four months (48.9 vs 48.2). Looking ahead, business confidence improved (55.5 vs 53.1)