AI Data Insight
In July 2026 (Q3 2026), China's manufacturing PMI purchasing quantity index significantly pulled back to 49.4%, a sharp decrease of 2 percentage points from the previous value of 51.4% in June (Q2 2026), falling back below the 50 boom-bust line. The overall manufacturing PMI also dropped to 49.2%, missing market expectations, indicating that under the traditional off-season and weather disruptions, weak domestic demand has forced enterprises to reduce purchases, and the downward pressure on the real economy will force policymakers to accelerate the rollout of counter-cyclical easing policies.