AI Data Insight
The latest May 2026 China medium-sized enterprise manufacturing PMI plummeted to 48.6, dropping 1.9 percentage points from the previous value of 50.5 and falling below the boom-bust line once again. Behind the overall manufacturing PMI remaining flat at 50, the steady expansion of large enterprises and the contraction of small and medium-sized enterprises form a significant divergence. This reflects the dual challenges of fading external demand dividends and persistent domestic demand weakness.