China Economic Data — May 2026
Key monthly economic indicators for China. Sources: NBS, GACC, PBOC, Ministry of Finance.
Last updated: early May 2026 (Q1 2026 data, March 2026 trade and monetary data)
📈 What These Numbers Mean
GDP: China's economy grew 5.0% in Q1 2026, beating consensus forecasts of 4.8%. The result puts the full-year target of 4.5–5% within reach, though trade war headwinds cloud the outlook. See the full Q1 GDP analysis.
Trade: The March trade surplus narrowed to $51B as tariff front-loading effects faded. Bilateral trade with Iran collapsed 90% amid the conflict. Japan trade surged 50%. Detailed March trade analysis.
CPI: Inflation remains stubbornly below 1%, reflecting weak domestic consumption demand despite policy stimulus. The PBOC maintains an accommodative monetary stance. Track monthly CPI data.
M2: Money supply growth held steady at 7.2%, consistent with the PBOC's moderate easing bias. Credit expansion is directed toward manufacturing and green investment rather than property. M2 data.
Industrial Output: The 6.1% industrial production growth was led by high-tech manufacturing (+12.5%), EVs (+48%), and renewable equipment. This structural shift toward advanced manufacturing continues despite trade tensions.
📊 Related Datasets
Sources: National Bureau of Statistics (NBS), General Administration of Customs (GACC), People's Bank of China (PBOC).