China Non Manufacturing PMI

Last Release

Feb 28, 2025

Actual

50.4

Units In

50.2

Frequency

Monthly

Next Release

N/A

Time to Release

N/A

Highest	Lowest	Average	Date Range	Source
62.2 May 2007	29.6 Feb 2020	54.53 %	2007-2025	National Bureau of Statistics of China

In China, the Non-Manufacturing purchasing managers index survey is based on data collected from a representative panel of 1200 enterprises from the non-manufacturing sector. The survey includes ten questions on business activity, new orders, new export orders, in hand orders index, stock, intermediate input price, subscription price, employment, supplier delivery time, and business activities expectation. For each question, the diffusion index is calculated. As there’s no integrated PMI, the business activity index is usually used to reflect the overall changes in non-manufacturing sector. A PMI reading above 50 percent indicates expansion from the previous month, while below 50 indicates contraction.

Latest Updates

China's official NBS Non-Manufacturing PMI was at 50.4 in February 2025, up from 50.2 in the previous month and slightly above market consensus of 50.3. The latest figures indicated a return to normal activity following the Spring Festival, alongside the impacts of recent stimulus measures from Beijing to support an economic turnaround. There were softer declines for new orders (46.1 vs 46.4) and employment (46.5 vs 46.7). At the same time, foreign sales shrank at a much slower pace (49.5 vs 44.6). Meanwhile, delivery times lengthened (53.1 vs 51.3). On the cost front, input prices fell after rising in the preceding two months (48.4 vs 50.4), with a steeper decrease in selling prices (47.8 vs 48.6). Lastly, confidence remained nearly unchanged after reaching a three-month low in January (56.6 vs 56.7).