China: Non-Manufacturing PMI - Caixin

Macro

2026-06-03

Description

The China Caixin Non-Manufacturing Purchasing Managers' Index (Caixin NMI) is jointly compiled and published by Caixin Media and IHS Markit. This index is based on a monthly survey of around 650 purchasing managers from state-owned and private non-manufacturing enterprises in China. It measures the health and economic condition of China's non-manufacturing sector. A NMI reading above 50 indicates expansion, while below 50 indicates contraction.

Unlike the Manufacturing PMI, the NMI is not a composite index. Instead, it uses the Business Activity Index from the non-manufacturing survey as its representative measure.

The data is typically released on the first working day of each month, providing insights into the non-manufacturing activities for the month.

Published by
Caixin Media (Choice)
Frequency
Monthly
Next Update
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AI Data Insight

In April 2026 (Q2), China's Caixin Non-Manufacturing PMI recorded 54.4, significantly rebounding from the previous month's 52.6 and largely beating the market consensus of 52.0. This wave of growth was primarily driven by domestic consumer demand and new orders in the services sector, offsetting the impact of relatively weak overseas demand. Looking ahead, continuous attention must be paid to corporate cost pressures and the actual recovery progress of the labor market.

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AI Data Insight

In April 2026 (Q2), China's Caixin Non-Manufacturing PMI recorded 54.4, significantly rebounding from the previous month's 52.6 and largely beating the market consensus of 52.0. This wave of growth was primarily driven by domestic consumer demand and new orders in the services sector, offsetting the impact of relatively weak overseas demand. Looking ahead, continuous attention must be paid to corporate cost pressures and the actual recovery progress of the labor market.

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Description

The China Caixin Non-Manufacturing Purchasing Managers' Index (Caixin NMI) is jointly compiled and published by Caixin Media and IHS Markit. This index is based on a monthly survey of around 650 purchasing managers from state-owned and private non-manufacturing enterprises in China. It measures the health and economic condition of China's non-manufacturing sector. A NMI reading above 50 indicates expansion, while below 50 indicates contraction.

Unlike the Manufacturing PMI, the NMI is not a composite index. Instead, it uses the Business Activity Index from the non-manufacturing survey as its representative measure.

The data is typically released on the first working day of each month, providing insights into the non-manufacturing activities for the month.

Published by
Caixin Media (Choice)
Frequency
Monthly
Next Update
Hashtags