National Bureau of Statistics: China's manufacturing PMI in February was 49.0%, a decrease of 0.3 percentage points from the previous month.

On March 4th, the National Bureau of Statistics released the operating conditions of the Chinese Purchasing Managers' Index (PMI) for February 2026. The data shows that in February, the manufacturing PMI was 49.0%, a decrease of 0.3 percentage points from the previous month, indicating a slight decline in the manufacturing sector. The non-manufacturing business activity index was 49.5%, an increase of 0.1 percentage points from the previous month, showing a slight improvement in the non-manufacturing sector. The comprehensive PMI output index was 49.5%, a decrease of 0.3 percentage points from the previous month, indicating a general slowdown in business operations compared to the previous month. The original text provides a detailed breakdown of the manufacturing and non-manufacturing PMI data for February 2026, as well as an analysis of the overall business outlook in China.