RatingDog Manufacturing PMI in China

S&P Global · Monthly · Importance

52.1 (Sep-26) ABS · index · Monthly · CSV

Period	index
Sep 2026	52.1
Aug 2026	51.5
Jul 2026	50.9
Jun 2026	51.7
May 2026	51.8

Period	index
Sep 2026	0.6

Period	index
Sep 2026	0.9

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.