The RatingDog China General Composite PMI rose to 55.4 in February 2026 from 51.6 in January, marking the fastest expansion in overall private-sector activity since May 2023. Output growth accelerated across both the manufacturing and services sectors, while total new business also increased at a quicker pace, supported by stronger growth in new export work. Backlogs of work began to accumulate again, as renewed job shedding was observed in the services sector. Meanwhile, price pressures intensified, with input costs and output charges rising at the fastest pace in 20 and 28 months, respectively. source: S&P Global

Composite PMI in China increased to 55.40 points in February from 51.60 points in January of 2026. Composite PMI in China averaged 51.38 points from 2013 until 2026, reaching an all time high of 57.50 points in November of 2020 and a record low of 27.50 points in February of 2020. This page provides - China Composite Pmi- actual values, historical data, forecast, chart, statistics, economic calendar and news.

Composite PMI in China increased to 55.40 points in February from 51.60 points in January of 2026. Composite PMI in China is expected to be 51.30 points by the end of this quarter, according to Trading Economics global macro models and analysts expectations. In the long-term, the China RatingDog Composite PMI is projected to trend around 50.60 points in 2027 and 50.80 points in 2028, according to our econometric models.



Related Last Previous Unit Reference
Business Conditions Index 53.70 49.80 points Jan 2026
NBS Manufacturing PMI 49.00 49.30 points Feb 2026
Industrial Capacity Utilization 74.90 74.60 percent Dec 2025
Passanger Car Production 2062000.00 2879000.00 Units Jan 2026
Passenger Car Sales 1988000.00 2261000.00 Units Jan 2026
Cement Production 14416.40 15434.20 Ten Thousands of Tonnes Dec 2025
Changes in Inventories 10002.90 8740.00 CNY Hundred Million Dec 2024
Composite Leading Indicator 98.81 98.84 points Jan 2026
Industrial Profits (YTD) YoY 7398200.00 6626860.00 CNY Million Dec 2025
Corruption Index 43.00 43.00 Points Dec 2025
Corruption Rank 76.00 76.00 Dec 2025
Electricity Production 858620.00 779220.00 Gigawatt-hour Dec 2025
Industrial Production YoY 5.20 4.80 percent Dec 2025
Industrial Production Mom 0.49 0.44 percent Dec 2025
Leading Economic Index 144.90 145.30 points Jan 2026
Manufacturing Production YoY 5.70 4.60 percent Dec 2025
Mining Production 5.40 6.30 percent Dec 2025
New Orders 49.20 50.80 points Jan 2026
Steel Production 75300.00 68200.00 Thousand Tonnes Jan 2026
Vehicle Sales YoY 2346000.00 3272000.00 Units Jan 2026


China RatingDog Composite PMI
The RatingDog China General Composite PMI, compiled by S&P Global, surveys around 1,300 companies across the manufacturing and service sectors. Data have been collected monthly since November 2005 to track changes in activity compared with the previous month. The Composite Output Index is a weighted average of the Manufacturing Output Index and the Services Business Activity Index, with weights based on the relative size of each sector according to official GDP data. A diffusion index is calculated for the survey, ranging from 0 to 100, with readings above 50 indicating overall growth. While sometimes referred to as the Composite PMI, it is not directly comparable with the headline manufacturing PMI. This is only a limited sample of PMI headline data displayed on the Customer’s service, under licence from S&P Global. Full historic PMI headline data and all other PMI sub-index data and histories are available on subscription from S&P Global. Contact economics@spglobal.com for more details.

News Stream
China RatingDog Composite PMI Highest Since 2023
The RatingDog China General Composite PMI rose to 55.4 in February 2026 from 51.6 in January, marking the fastest expansion in overall private-sector activity since May 2023. Output growth accelerated across both the manufacturing and services sectors, while total new business also increased at a quicker pace, supported by stronger growth in new export work. Backlogs of work began to accumulate again, as renewed job shedding was observed in the services sector. Meanwhile, price pressures intensified, with input costs and output charges rising at the fastest pace in 20 and 28 months, respectively.
2026-03-04
China RatingDog Composite PMI Rises to 3-Month Peak
The RatingDog China General Composite PMI rose to 51.6 in January 2026 from 51.3 in the previous month, marking the highest reading since October. The index also signaled an eighth consecutive month of expansion in private-sector activity, as output growth accelerated across both the manufacturing and services sectors ahead of the Spring Festival. Total new business increased at a faster pace, supported by a renewed rise in overseas demand. Firms resumed hiring, which helped reduce outstanding business volumes. Meanwhile, composite output charges increased for the first time in 14 months, reflecting continued rises in input costs, although the pace of cost inflation eased compared with December.
2026-02-04
China RatingDog Composite PMI Edges Higher
The RatingDog China General Composite PMI inched up to 51.3 in December 2025 from November's four-month low of 51.2, marking a seventh consecutive month of expansion in private-sector activity. The modest improvement was supported by stronger services activity alongside a renewed increase in factory output. Total new orders rose, although the pace of growth slowed to a six-month low as export orders declined again, highlighting ongoing weakness in external demand. Meanwhile, employment continued to contract, with firms shedding jobs amid muted capacity pressures and still-subdued business confidence. On the pricing front, selling prices fell for another month, reflecting efforts to support demand in a competitive environment, even as cost pressures intensified slightly.
2026-01-05