0859 GMT - The divergence in the latest China PMI gauges suggest that the domestic economy is off to a sluggish start, while external demand remains solid, ING economists say. While the official manufacturing survey declined in February, the private RatingDog PMI unexpectedly rose, showing new orders at the highest level since 2020. ING's Lynn Song reckons that the gap is likely due to the sample size of the surveyed companies, as the RatingDog measure is more focused on export-oriented and private enterprises than the official survey. The mixed bag suggests a similar trajectory to last year: resilient demand abroad continuing to drive growth, while demand at home stays disappointingly soft. Without a rollout of policy support, domestic demand will likely continue to flounder, Song says. (fabiana.negrinochoa@wsj.com)

(END) Dow Jones Newswires

March 04, 2026 03:59 ET (08:59 GMT)

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