RatingDog Manufacturing PMI in China

S&P Global · Monthly · Importance

51.5 (Aug-26) ABS · index · Monthly · CSV

Period	index
Aug 2026	51.5
Jul 2026	50.9
Jun 2026	51.7
May 2026	51.8

Period	index
May 2026	-0.4
Apr 2026	1.4
Mar 2026	-1.3
Feb 2026	1.8
Jan 2026	0.2
Dec 2025	0.2
Nov 2025	-0.7
Oct 2025	-0.6
Sep 2025	0.7
Aug 2025	1.0
Jul 2025	-0.9
Jun 2025	2.1
May 2025	-2.1
Apr 2025	-0.8
Mar 2025	0.4
Feb 2025	0.7

Period	index
Aug 2026	1.0
Jul 2026	1.4
Jun 2026	1.3
May 2026	3.5
Apr 2026	1.8
Mar 2026	-0.4
Feb 2026	1.3
Jan 2026	0.2

About this indicator

Source

S&P Global Market Intelligence / RatingDog

Frequency

Monthly

Release

First working day of the following month, 09:45 cst (01:45 utc).

What it is

The RatingDog Manufacturing PMI (formerly Caixin) is a diffusion index based on a survey of purchasing managers in Chinese industry. Above 50 signals expansion. It is a private survey, compiled by S&P Global and distinct from the official NBS PMI, tilted towards smaller, export-oriented firms.

How it's calculated

A weighted composite of five sub-indices: New Orders (30%), Output (25%), Employment (20%), Suppliers' Delivery Times (15%) and Stocks of Purchases (10%). Seasonally adjusted.

Market implications

It is one of the first data points of the month on China's industrial cycle and, given its bias towards private SMEs, is read as a complement to the official NBS PMI; a strong print supports the yuan and assets tied to the global cycle.

Limitations

A qualitative survey that reflects the direction of change, not its magnitude. Its sample differs from the NBS survey, so the two PMIs can diverge in the same month.