AI Data Insight
The latest data shows that China's Q3 2026 manufacturing PMI backlog of orders index dropped to 45.8, a significant decline from the previous value of 47.1, falling deeply into the contraction zone. Overall new orders slowed simultaneously, reflecting the dual pressures of the traditional manufacturing off-season and weak domestic demand. In the short term, the market is highly anticipating increased policy support to reverse downside economic risks.