AI Data Insight
In April 2026, China's manufacturing Quantity of Purchases PMI fell to 49.8 from 51.1 in the previous month, dropping below the 50-point threshold and underperforming the overall manufacturing PMI. Affected by the surge in energy and raw material prices triggered by geopolitics, corporate cost pressures have escalated, leading to a contraction in purchasing momentum. Moving forward, close attention must be paid to the impact of export resilience and cost pass-through conditions on the manufacturing recovery.