China RatingDog Composite PMI Drops from 33-Month Peak

2026-04-03 01:50 By Farida Husna 1 min. read

China’s RatingDog China General Composite PMI fell to 51.5 in March 2026 from February’s 33-month high of 55.4.

Despite the decline, the reading remained broadly in line with the two-year average, indicating continued expansion with growth still supported across manufacturing and services.

Total new orders rose at a slower pace, though gains in both sectors helped sustain overall demand.

Backlogs of work increased at the fastest rate in six months, pointing to rising capacity pressures.

Employment, however, continued to edge lower overall, as gains in manufacturing jobs were not enough to offset declines elsewhere.

On the price front, input cost inflation accelerated to its strongest level since May 2022, largely driven by a sharp rise in manufacturing costs.

Meanwhile, output charge inflation eased slightly from February and remained close to its long-run average.



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China RatingDog Composite PMI Drops from 33-Month Peak
China’s RatingDog China General Composite PMI fell to 51.5 in March 2026 from February’s 33-month high of 55.4. Despite the decline, the reading remained broadly in line with the two-year average, indicating continued expansion with growth still supported across manufacturing and services. Total new orders rose at a slower pace, though gains in both sectors helped sustain overall demand. Backlogs of work increased at the fastest rate in six months, pointing to rising capacity pressures. Employment, however, continued to edge lower overall, as gains in manufacturing jobs were not enough to offset declines elsewhere. On the price front, input cost inflation accelerated to its strongest level since May 2022, largely driven by a sharp rise in manufacturing costs. Meanwhile, output charge inflation eased slightly from February and remained close to its long-run average.
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