FX.co ★ China RatingDog Composite PMI Highest Since 2023

The RatingDog China General Composite PMI rose to 55.4 in February 2026 from 51.6 in January, signaling the strongest expansion in overall private-sector activity since May 2023. Output growth picked up in both manufacturing and services, and total new business increased at a faster rate, underpinned by stronger gains in new export orders. Backlogs of work started to build up again, while renewed job shedding emerged in the services sector. At the same time, price pressures intensified, with input costs and output charges rising at their fastest rates in 20 and 28 months, respectively.