China’s NBS Composite PMI Output Index increased to 50.5 in May 2026 from 50.1 in April, marking a third straight month of growth in overall business activity. The uptick reflected a modest rebound in services after April’s contraction, while manufacturing stayed largely flat. Still, the outlook was clouded by external headwinds. The Middle East conflict, which shut the Strait of Hormuz in late February, has driven energy prices sharply higher, lifting production and transport costs and squeezing margins. Trade uncertainty also lingered after a mid-May summit in Beijing between Chinese and U.S. leaders failed to extend last year’s truce. While both sides agreed to explore tariff cuts on about USD 30 billion of goods each, the absence of a broader deal weighed on confidence and export prospects. Huo Lihui of the National Bureau of Statistics said China's overall economic activity continued to expand in May despite rising costs and challenging global conditions. source: National Bureau of Statistics of China
NBS General PMI in China increased to 50.50 points in May from 50.10 points in April of 2026. NBS General PMI in China averaged 52.01 points from 2017 until 2026, reaching an all time high of 57.00 points in March of 2023 and a record low of 28.90 points in February of 2020. This page includes a chart with historical data for China NBS General PMI.
NBS General PMI in China increased to 50.50 points in May from 50.10 points in April of 2026. NBS General PMI in China is expected to be 51.10 points by the end of this quarter, according to Trading Economics global macro models and analysts expectations. In the long-term, the China NBS General PMI is projected to trend around 50.80 points in 2027 and 50.50 points in 2028, according to our econometric models.