China’s NBS Composite PMI Output Index fell to 49.7 in October 2026 from September’s nine-month high of 50.7, marking the fifth contraction in overall business activity so far this year. The decline reflected weaker manufacturing output and a renewed contraction in the services sector following a brief expansion in September. While high-tech manufacturing remained resilient, supported by AI-related demand, broader business activity softened amid subdued domestic demand and seasonal disruptions from the Golden Week holiday. NBS statistician Huo Lihui attributed the overall slowdown partly to the impact of the holiday. source: National Bureau of Statistics of China

NBS General PMI in China decreased to 49.70 points in October from 50.70 points in September of 2026. NBS General PMI in China averaged 51.92 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 decreased to 49.70 points in October from 50.70 points in September of 2026. NBS General PMI in China is expected to be 50.70 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.



Related Last Previous Unit Reference
Business Conditions Index 49.50 48.30 points Sep 2026
NBS Manufacturing PMI 49.30 50.10 points Oct 2026
Industrial Capacity Utilization 73.10 73.00 percent Sep 2026
Passanger Car Production 2990000.00 2684000.00 Units Sep 2026
Passenger Car Sales 1618000.00 1541000.00 Units Sep 2026
Cement Production 14401.00 12908.00 Ten Thousands of Tonnes Sep 2026
Changes in Inventories 15366.10 11183.40 CNY Hundred Million Dec 2025
Coal Production 385.13 361.82 Million Tonnes Sep 2026
Composite Leading Indicator 97.41 97.64 points Sep 2026
Industrial Profits (YTD) YoY 6033740.00 5271980.00 CNY Million Sep 2026
Corruption Index 43.00 43.00 Points Dec 2025
Corruption Rank 76.00 76.00 Dec 2025
Electricity Production 829400.00 943800.00 Gigawatt-hour Sep 2026
Industrial Production YoY 5.50 5.20 percent Sep 2026
Industrial Production Mom 0.61 0.54 percent Sep 2026
Leading Economic Index 147.70 148.20 points Sep 2026
Manufacturing Production YoY 6.00 6.10 percent Sep 2026
Mining Production 1.30 -1.40 percent Sep 2026
New Orders 49.40 50.50 points Oct 2026
Steel Production 73600.00 74600.00 Thousand Tonnes Sep 2026
Vehicle Sales YoY 2956000.00 2712000.00 Units Sep 2026


China NBS General PMI
In China, the NBS Comprehensive Purchasing Manager Index measures the performance of the manufacturing and non-manufacturing sectors. A reading above 50 indicates an expansion of the overall economic trend compared to the previous month; below 50 represents a contraction; while 50 indicates no change.

News Stream
China Composite PMI Falls Back into Contraction
China’s NBS Composite PMI Output Index fell to 49.7 in October 2026 from September’s nine-month high of 50.7, marking the fifth contraction in overall business activity so far this year. The decline reflected weaker manufacturing output and a renewed contraction in the services sector following a brief expansion in September. While high-tech manufacturing remained resilient, supported by AI-related demand, broader business activity softened amid subdued domestic demand and seasonal disruptions from the Golden Week holiday. NBS statistician Huo Lihui attributed the overall slowdown partly to the impact of the holiday.
2026-10-31
China NBS General PMI Rises to 9-Month High
China’s NBS Composite PMI Output Index rose to 50.7 in September 2026 from 49.5 in the previous month, marking the highest reading since December 2025 and the first expansion in overall business activity since June. The improvement reflected faster growth in manufacturing output and a return to expansion in the service sector after two months of contraction. Strong global demand for AI hardware supported sentiment, while expectations of further policy support from Beijing and a recovery from weather-related disruptions in August also boosted activity. However, persistent headwinds remained, including weak domestic demand, higher energy costs that squeezed factory margins, and uneven momentum across the broader economy. NBS statistician Huo Lihui said the September expansion was driven by brisk activity in technology-related and consumer industries.
2026-09-30
China NBS General PMI Inches Higher
China’s NBS Composite PMI Output Index edged up to 49.5 in August 2026 from July’s 3-1/2-year low of 49.3. However, the latest reading marked the second straight month of contraction in overall business activity, as weak services activity continued to weigh on growth despite a return to expansion in manufacturing output. Soft domestic demand and persistent weakness in the property sector remained key headwinds, while trade tensions added uncertainty to the external outlook. NBS statistician Huo Lihui said the August reading reflected the impact of extreme weather in some parts of the country, while noting that overall business activity recovered slightly from July.
2026-08-31