GlobalSupplyShock

China

China is the world's biggest manufacturer and exporter. Its official factory survey (PMI) and monthly export figures are two of the most-watched numbers in the world economy.

Latest monthly exports (fresher reading)

0.4bn US$

+20.5% vs a year earlier

as of May 2026

OECD compilation of official data, ~2-month lag — the long-history chart below runs on a slower mirror.

Official factory activity (NBS Manufacturing PMI)

A monthly survey of Chinese factory managers — above 50 means factories are getting busier, below 50 means they're slowing down.

49.0 — contracting

Official NBS survey (never the private Caixin/S&P survey, which is licensed data). The 50 line is the boundary between growth and contraction.

Newest data point:
February 2026
Last checked:
29 July 2026
Updates:
monthly
Confidence:
medium

Monthly exports

The total value of everything China sold abroad that month — because China ships so much of the world's manufactured goods, a drop here is an early sign world trade is cooling.

+4.6% vs a year earlier

Via IMF Direction of Trade Statistics (DBnomics mirror) — this mirror runs roughly a year behind the present, so recent months may not appear yet. Values converted from million US$ to billion US$ for readability.

Newest data point:
May 2025
Last checked:
29 July 2026
Updates:
monthly
Confidence:
medium

Reminder: a weak month can have many causes — currency moves, holidays, one-off factory shutdowns. Changes here are correlated with global supply conditions, but correlation is not causation.