---
source: S&P Global
source_institution: S&P Global Market Intelligence
url: https://www.pmi.spglobal.com/public
document_type: press_release (indexed via tradingeconomics.com)
date_retrieved: 2026-03-15
period: February 2026
reference_date: 2026-02-28
release_date: 2026-03-04
parent_publication: RatingDog China General Services PMI
indicators_covered: [Services PMI, New Orders, Employment, Input Prices, Output Prices]
country: China
actual_value: 56.7
previous_value: 52.3
methodology: |
  The RatingDog China General Services PMI is compiled by S&P Global and surveys
  around 650 service-sector companies across areas such as consumer services
  (excluding retail), transport, finance, insurance, real estate, and business
  services. Responses are collected monthly since November 2005. A diffusion
  index is calculated, ranging from 0 to 100, with readings above 50 indicating
  growth. The headline figure, the Services Business Activity Index, tracks
  monthly changes in business activity.
---

# RatingDog China General Services PMI — February 2026

## Release Summary

The RatingDog China General Services PMI surged to **56.7** in February 2026, up from 52.3 in January—the **highest reading since May 2023**.

The strong performance was driven by successful promotional strategies, rising client interest, and a notable increase in foreign demand, particularly from tourism interest.

---

## Key Findings

### Activity & Orders

- **Services Business Activity Index:** 56.7 (February) vs. 52.3 (January)
- **New Orders:** Rose at the **strongest pace since May 2024**, supported by:
  - Successful promotional strategies
  - Rising client interest
  - Increased foreign demand (greatest year-on-year growth)
  - Greater tourism interest

### Employment

- Service providers **reduced staffing levels** in February
- This followed a slight increase in payroll at the start of the year

### Outstanding Business

- Outstanding business **accelerated further**
- Growth rate remained similar to the prior two months

### Inflation & Pricing

**Input Prices:**
- Cost pressures intensified
- Average input prices rose at a **quicker rate**
- Drivers: higher wage costs and energy costs

**Output Prices:**
- Selling prices **gained for the first time in three months**
- Rate of output price inflation was the **highest recorded since May**
- Growth described as "modest" but trending upward

### Business Confidence

- Business confidence remained elevated
- Supported by forecasts of:
  - Improved market conditions
  - Business expansion plans

---

## Statistical Context

| Metric | February 2026 | January 2026 | May 2023 Reference |
|--------|---------------|--------------|-------------------|
| Services PMI | 56.7 | 52.3 | 56.7 (prior high) |
| New Orders Pace | Strongest since May 2024 | — | — |

---

## Survey Scope

The RatingDog China General Services PMI surveys approximately **650 service-sector companies** across:
- Consumer services (excluding retail)
- Transport
- Finance
- Insurance
- Real estate
- Business services

Monthly data collection began November 2005. The diffusion index ranges from 0 to 100, with:
- **> 50** = Growth
- **= 50** = No change
- **< 50** = Contraction

---

## Methodological Notes

- The Services Business Activity Index (headline figure) tracks **monthly changes in business activity**
- This is comparable to the Manufacturing Output Index
- **Not directly comparable** to the headline Manufacturing PMI
- This represents a limited sample of PMI headline data; full historic data and sub-indices available by subscription from S&P Global
- For complete PMI data and all sub-indices, contact: **economics@spglobal.com**

---

## Source Attribution

- **Compiler:** S&P Global
- **Official Website:** https://www.pmi.spglobal.com/public
- **Release Date:** 4 March 2026
- **Data Retrieval Access:** The primary S&P Global press release is available via subscription; this summary is indexed and reproduced via Trading Economics with full attribution