China PMIs from the National Bureau of Statistics (NBS) for September 2025
Manufacturing 49.8, a beat and still in contraction
- expected 49.5, prior 49.4
- manufacturing activity shrank for a sixth month in September
- manufacturing production index +1.1to 51.9%
- key raw material prices -0.1 to 53.2
- new order index +0.2 to 49.7%
- new export order index +0.6 to 47.8%
Non-manufacturing 50.0, a miss and on the mid line between expanding and contracting
- expected 50.3, prior 50.3
Composite 50.6, up a tic
- prior 50.5
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Still to come, the private survey PMIs
