National Bureau of Statistics interpretation: The Purchasing Managers' Index (PMI) for manufacturing industry fell slightly in February, while the Business Activity Index for non-manufacturing industry saw a small increase.

On March 4, Huo Lihui, the chief statistician of the National Bureau of Statistics Service Industry Survey Center, interpreted the China Purchasing Managers' Index for February 2026. In February, affected by factors such as the Spring Festival holiday, the Purchasing Managers' Index for the manufacturing industry was 49.0%, a decrease of 0.3 percentage points from the previous month; the non-manufacturing business activity index was 49.5%, an increase of 0.1 percentage points from the previous month; the comprehensive PMI output index was 49.5%, a decrease of 0.3 percentage points from the previous month. The full text is as follows: Manufacturing Purchasing Managers' Index fell slightly in February, while non-manufacturing business activity index rose slightly - Huo Lihui, the chief statistician of the National Bureau of Statistics Service Industry Survey Center, interpreted the China Purchasing Managers' Index for February 2026 On March 4, 2026, the National Bureau of Statistics Service Industry Survey Center and the China Federation of Logistics & Purchasing released the China Purchasing Managers' Index. Huo Lihui, the chief statistician of the National Bureau of Statistics Service Industry Survey Center, provided an interpretation of the data. In February, affected by the Spring Festival holiday, the Purchasing Managers' Index for the manufacturing industry was 49.0%, a decrease of 0.3 percentage points from the previous month; the non-manufacturing business activity index was 49.5%, an increase of 0.1 percentage points from the previous month; the comprehensive PMI output index was 49.5%, a decrease of 0.3 percentage points from the previous month. I. Manufacturing Purchasing Managers' Index fell slightly In February, the manufacturing PMI was 49.0%, indicating a decrease in business conditions compared to the previous month. Historical data shows that there is usually some fluctuation in the PMI during the month of the Spring Festival holiday, especially this year when the holiday was extended and fell entirely in the second half of February, impacting business operations, leading to an overall decrease in market activity in the manufacturing industry. - end of translation -