AI Data Insight
In October 2026, China's non-manufacturing new export orders PMI fell to 46.5, a significant pullback from the previous reading of 48.5 and sinking deeper below the boom-or-bust line. Impacted by the disruption of the National Day holiday and the fading effect of early shipments for Christmas orders, external demand cooled significantly. Going forward, close attention must be paid to whether official fiscal stimulus can effectively boost domestic demand to offset the gradually rising foreign trade pressures.