China’s NBS Composite PMI Output Index slipped to 50.1 in April 2026 from March’s three-month high of 50.5, signaling near-stagnation in overall business activity. A contraction in the services sector outweighed continued resilience in manufacturing output, while escalating Middle East tensions added uncertainty by stoking concerns over higher oil prices, supply-chain disruptions, and weaker global demand. The latest result came as China prepares for a May summit between President Xi Jinping and U.S. President Donald Trump, where Beijing is expected to seek clarity around U.S. trade penalties on Chinese goods. The two leaders met last year in Busan, South Korea, where they agreed to a trade truce that saw Washington cut the overall tariff rate on Chinese goods to about 47%, while Beijing pledged to suspend sweeping export controls on rare earths. source: National Bureau of Statistics of China

NBS General PMI in China decreased to 50.10 points in April from 50.50 points in March of 2026. NBS General PMI in China averaged 52.03 points from 2017 until 2026, reaching an all time high of 57 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 50.10 points in April from 50.50 points in March 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.



Related Last Previous Unit Reference
Business Conditions Index 51.70 52.40 points Mar 2026
NBS Manufacturing PMI 50.30 50.40 points Apr 2026
Industrial Capacity Utilization 73.60 74.90 percent Mar 2026
Passanger Car Production 2446000.00 1400000.00 Units Mar 2026
Passenger Car Sales 1648000.00 1034000.00 Units Mar 2026
Cement Production 12310.00 17827.00 Ten Thousands of Tonnes Mar 2026
Changes in Inventories 10002.90 8740.00 CNY Hundred Million Dec 2024
Composite Leading Indicator 98.49 98.51 points Mar 2026
Industrial Profits (YTD) YoY 1696040.00 1024560.00 CNY Million Mar 2026
Corruption Index 43.00 43.00 Points Dec 2025
Corruption Rank 76.00 76.00 Dec 2025
Electricity Production 802480.00 1571790.00 Gigawatt-hour Mar 2026
Industrial Production YoY 5.70 6.30 percent Mar 2026
Industrial Production Mom 0.28 0.83 percent Mar 2026
Leading Economic Index 144.80 145.10 points Mar 2026
Manufacturing Production YoY 6.00 6.60 percent Mar 2026
Mining Production 5.70 6.10 percent Mar 2026
New Orders 51.60 48.60 points Mar 2026
Steel Production 87000.00 76100.00 Thousand Tonnes Mar 2026
Vehicle Sales YoY 2899000.00 1801000.00 Units Mar 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 Pulls Back from 3-Month Peak
China’s NBS Composite PMI Output Index slipped to 50.1 in April 2026 from March’s three-month high of 50.5, signaling near-stagnation in overall business activity. A contraction in the services sector outweighed continued resilience in manufacturing output, while escalating Middle East tensions added uncertainty by stoking concerns over higher oil prices, supply-chain disruptions, and weaker global demand. The latest result came as China prepares for a May summit between President Xi Jinping and U.S. President Donald Trump, where Beijing is expected to seek clarity around U.S. trade penalties on Chinese goods. The two leaders met last year in Busan, South Korea, where they agreed to a trade truce that saw Washington cut the overall tariff rate on Chinese goods to about 47%, while Beijing pledged to suspend sweeping export controls on rare earths.
2026-04-30
China NBS General PMI Rises to 3-Month High
China’s NBS Composite PMI Output Index rose to 50.5 in March 2026 from 49.5 in the previous month, marking the highest reading since December and returning to expansion territory. The improvement was driven by a rebound in manufacturing output, as firms resumed operations after the Spring Festival and supply chains and labor availability gradually normalized. The services sector also recovered after two months of contraction, supported by policy measures and steady business sentiment. Still, escalating Middle East tensions pose risks: higher energy prices and potential shipping disruptions could lift input costs and weigh on external demand, particularly for exporters. NBS statistician Huo Lihui noted that overall production and operations among Chinese enterprises were improving, signaling a broader recovery across sectors despite lingering external uncertainties.
2026-03-31
China NBS General PMI at Over 3-Year Low
China’s NBS Composite PMI Output Index fell to 49.5 in February 2026 from 49.8 in the previous month, indicating that the overall production and operation activities of Chinese enterprises slowed down. The latest figure also marked the lowest reading since December 2022, with manufacturing activity slipping to a four-month low as factories paused production and shipments due to the week-long holiday. NBS statistician Huo Lihui blamed the longer-than-usual holiday for the softening manufacturing activity, saying companies’ production and operations were affected to some extent. Meanwhile, the services sector increased slightly as the holiday boosted travel, entertainment activities, and duty-free shopping, marking the longest holiday on record as Chinese authorities sought to stimulate consumer spending.
2026-03-04