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. source: National Bureau of Statistics of China

NBS General PMI in China decreased to 49.50 points in February from 49.80 points in January of 2026. NBS General PMI in China averaged 52.06 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 49.50 points in February from 49.80 points in January of 2026. NBS General PMI in China is expected to be 50.30 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 52.40 53.70 points Feb 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 1034000.00 1544000.00 Units Feb 2026
Cement Production 17827.00 14416.40 Ten Thousands of Tonnes Feb 2026
Changes in Inventories 10002.90 8740.00 CNY Hundred Million Dec 2024
Composite Leading Indicator 98.54 98.64 points Feb 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 6.30 5.20 percent Feb 2026
Industrial Production Mom 0.83 0.39 percent Feb 2026
Leading Economic Index 144.90 145.30 points Jan 2026
Manufacturing Production YoY 6.60 5.70 percent Feb 2026
Mining Production 6.10 5.40 percent Feb 2026
New Orders 48.60 49.20 points Feb 2026
Steel Production 75300.00 68200.00 Thousand Tonnes Jan 2026
Vehicle Sales YoY 1801000.00 2346000.00 Units Feb 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 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
China NBS General PMI Falls from 6-Month High
China’s NBS Composite PMI Output Index dipped to 49.8 in January 2026 from December's six-month high of 50.7. Services activity contracted after expanding in December, weighed by post-holiday demand normalization and tighter cost conditions, while manufacturing output continued to grow. Huo Lihui, a statistician at the National Bureau of Statistics, said overall economic activity softened at the start of the year, noting that parts of the manufacturing sector entered the traditional off-season. Meanwhile, unusually low temperatures ahead of the Spring festive period also disrupted the services sector.
2026-01-31
China Official Composite PMI Notches 6-Month High
China’s NBS Composite PMI Output Index edged up to 50.7 in December 2025 from 49.7 in the previous month, marking the highest reading since June. Manufacturing activity grew ahead of year-end following declines in the previous eight months. Meanwhile, the service sector expanded at its fastest pace in four months, supported by ongoing efforts from Beijing to bolster domestic demand through targeted fiscal spending, consumption support measures, and accommodative policy settings. Huo Lihui, a statistician at the National Bureau of Statistics, said China’s economic activity picked up in the final month of the year as the year-end approached, with production improving after recent weakness and the business climate in the service sector turning more favorable.
2025-12-31