China’s PMI February 2026

According to data from the National Bureau of Statistics, China’s composite Purchasing Managers' Index (PMI), which includes both manufacturing and non-manufacturing activities, was recorded at 49.5 in February 2026, below the threshold between expansion and contraction.

China’s non-manufacturing PMI, which has been supporting the economic recovery so far, stood at 49.5 in February, while the manufacturing PMI came in at 49 points.

Preliminary official figures show that the nine-day Lunar New Year holiday led to a noticeable increase in travel, entertainment activities and duty-free shopping. The holiday period, which ran from February 15 to February 23, was the longest ever arranged, reflecting the authorities’ commitment to encouraging consumer spending and reinforcing domestic demand.

Several key segments of the Chinese economy, particularly those linked to consumption, continue to follow a gradual recovery trajectory. The government has introduced a series of policy initiatives and financial measures aimed at strengthening service consumption and further supporting household demand.

Additional clarity on the broader economic outlook is expected at the upcoming parliamentary session in Beijing, where new economic targets will be announced. Policy discussions are expected to provide further support for sustained economic stability.