On 30 September 2026, Yicai reported that China's manufacturing purchasing managers' index (PMI) rose 0.3 percentage point from August to 50.1, according to data released the same day by the National Bureau of Statistics. A reading above 50 indicates expansion. The rebound was modest: production strengthened while demand cooled slightly at the margin.
Among sub-indices, the production index climbed 1.3 points to 51.7. The new orders index edged down 0.1 point to 50.5, and the new export orders index slipped by the same amount to 50.0. Of 21 industries tracked, 12 recorded PMIs above 50, four more than in August. China Logistics Information Center expert Wen Tao said consumer-goods new orders rose by more than 3 points to nearly 53 on holiday stockpiling and overseas order completion, while that sector's new export orders gained more than 1 point to almost 52. The manufacturing production and business activity expectations index held at 53.8.
Price pressure was the sharper signal for buyers. The manufacturing purchase price index for major raw materials jumped 4.2 points to 60.8, while the ex-factory price index rose 3.6 points to 54.0. Yicai noted the gap implies more factories absorbed higher input costs than they could pass through. Basic raw materials saw purchase prices rise by more than 10 points to above 70 amid higher crude oil and natural gas prices. Equipment, high-tech, and consumer-goods purchase price indexes also moved above 54. Non-manufacturing business activity rose 1.2 points to 50.2, and the composite PMI output index rose to 50.7 from 49.5.