China National Bureau of Statistics Non-Manufacturing Purchasing Managers' Index
China NBS Non-Manufacturing PMI is a survey-based measure of activity in China’s services and construction sectors. Readings above 50 generally signal expansion, while readings below 50 signal contraction.
Full explanation
The index is part of the official PMI system published by China’s National Bureau of Statistics. It is based on purchasing managers’ survey responses for non-manufacturing businesses, including indicators such as business activity, new orders, employment, supplier delivery time and expectations.
Why traders watch it
Traders watch it as an early gauge of domestic demand and service-sector momentum in China. It can affect sentiment toward CNY, Asian FX, commodities and China-exposed equities.
Stronger vs weaker outcomes
A stronger-than-expected reading may point to firmer non-manufacturing activity, while a weaker reading may suggest softer services or construction momentum. The impact may differ depending on whether the move is driven by services, construction or expectations components.
Related indicators
ADP National Employment Report Preliminary Estimate / NER Pulse
ADP Weekly Employment Change is a high-frequency estimate of U.S. private-sector job growth. It gives an early read on whether private employers are adding or cutting jobs.
Advance Merchant Wholesale Inventories month-over-month change
U.S. Wholesale Inventories MoM measures the monthly change in goods held in stock by merchant wholesalers. It shows whether wholesalers are building or drawing down inventories.
American Petroleum Institute Weekly Statistical Bulletin Crude Oil Inventory Change
This is a weekly estimate of the change in U.S. crude oil inventories reported by the American Petroleum Institute. A positive number means stocks rose, while a negative number means stocks fell.
ANZ Business Outlook - Business Confidence
ANZ Business Confidence shows whether New Zealand firms are generally optimistic or pessimistic about business conditions. The headline figure is usually a net balance, meaning the share expecting improvement minus the share expecting deterioration.
Australia Financial Aggregates - private sector credit growth
Australia Private Sector Credit tracks growth in credit provided to households and businesses by domestic financial institutions. The MoM version compares with the previous month, while the YoY version compares with the same month a year earlier.
Australia Housing Credit Month-over-Month
Australia Housing Credit MoM measures the monthly change in outstanding credit used for housing. It shows whether housing-related borrowing is expanding or slowing from one month to the next.