The RatingDog China General Manufacturing PMI rose to 52.1 in February 2026 from 50.3 in January, the highest since December 2020 and marking a third straight month of factory expansion. Output grew the most since June 2024, while new orders increased for a ninth month, with growth the strongest since December 2020. Foreign demand saw its sharpest rise since September 2020. Backlogs increased and employment edged up for a second month, the first back-to-back rise since mid-2021. Buying activity expanded at the fastest pace since November 2024, lifting input stocks as supplier delivery times shortened slightly. Input cost inflation rose to its highest since June 2022, partly due to higher metal prices, though still below the long-run average. Output price inflation hit a 15-month high, while confidence rose to an 11-month peak. The result differed from an official survey showing factory activity contracted for a second month in February. source: S&P Global

Manufacturing PMI in China increased to 52.10 points in February from 50.30 points in January of 2026. Manufacturing PMI in China averaged 50.14 points from 2011 until 2026, reaching an all time high of 54.90 points in November of 2020 and a record low of 40.30 points in February of 2020. This page provides the latest reported value for - China Manufacturing PMI - plus previous releases, historical high and low, short-term forecast and long-term prediction, economic calendar, survey consensus and news.

Manufacturing PMI in China increased to 52.10 points in February from 50.30 points in January of 2026. Manufacturing PMI in China is expected to be 50.40 points by the end of this quarter, according to Trading Economics global macro models and analysts expectations. In the long-term, the China RatingDog Manufacturing PMI is projected to trend around 50.60 points in 2027 and 50.70 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 Manufacturing PMI
The RatingDog China General Manufacturing PMI, compiled by S&P Global, is based on monthly surveys of around 650 manufacturers across sectors and company sizes, weighted by GDP contribution. Conducted in the second half of each month, the survey tracks changes from the prior month using a diffusion index, where readings above 50 signal improvement and below 50 signal deterioration. The headline PMI is a weighted average of five components: New Orders (30%), Output (25%), Employment (20%), Suppliers’ Delivery Times (15%, inverted), and Stocks of Purchases (10%). Results are seasonally adjusted, with only adjustment factors subject to revision, not the original survey data. 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 Manufacturing Growth at Over 5-Year High
The RatingDog China General Manufacturing PMI rose to 52.1 in February 2026 from 50.3 in January, the highest since December 2020 and marking a third straight month of factory expansion. Output grew the most since June 2024, while new orders increased for a ninth month, with growth the strongest since December 2020. Foreign demand saw its sharpest rise since September 2020. Backlogs increased and employment edged up for a second month, the first back-to-back rise since mid-2021. Buying activity expanded at the fastest pace since November 2024, lifting input stocks as supplier delivery times shortened slightly. Input cost inflation rose to its highest since June 2022, partly due to higher metal prices, though still below the long-run average. Output price inflation hit a 15-month high, while confidence rose to an 11-month peak. The result differed from an official survey showing factory activity contracted for a second month in February.
2026-03-04
China Manufacturing PMI Hits 3-Month High
The RatingDog China General Manufacturing PMI increased to 50.3 in January 2026 from December’s reading of 50.1, in line with market forecasts. The latest reading indicated a slight expansion in factory activity but the fastest growth since last October, as output growth accelerated modestly amid higher new orders, supported by a fresh rise in new export orders. In response to rising new orders and production, firms raised their staffing levels for the first time in three months, albeit only marginally. Purchasing activity increased, while supply conditions were unchanged. Regarding prices, input cost inflation accelerated to its highest level since last September due to higher metal prices. As a result, selling prices rose for the first time since November 2024. Looking ahead, business sentiment weakened to a nine-month low amid concerns over the outlook for economic growth and rising cost pressures.
2026-02-02
China’s Factory Activity Unexpectedly Grows
The RatingDog China General Manufacturing PMI unexpectedly increased to 50.1 in December 2025 from November’s four-month low of 49.9, beating market forecasts of 49.8. The latest reading indicated a slight increase in factory activity, supported by higher inflows of new work despite a modest decline in new export sales. However, the improvement in demand was largely limited to the domestic market amid the government’s efforts to boost spending at home. Meanwhile, purchasing activity stagnated as companies reported sufficient inventories of raw materials and semi-finished products. Despite the rise in new orders, employment fell for the second consecutive month due to both resignations and redundancies amid cost concerns. On the price front, input cost inflation accelerated to a three-month high due to higher raw material prices. Selling prices continued to fall as firms attempted to support sales. Finally, business sentiment weakened amid lingering concerns over the growth outlook.
2025-12-31