AI Data Insight
In Q3 (July) 2026, China's manufacturing PMI for medium-sized enterprises fell by 0.8 percentage points to 49.7, ending the expansionary trend of the previous month and dropping below the 50 boom-bust line. This trend aligns with the sluggish performance of the overall manufacturing sector, which unexpectedly slipped to 49.2, highlighting the dual pressures of insufficient domestic demand and climate disruptions. The speed of implementation of counter-cyclical adjustment policies in the future will be the key to whether the manufacturing sector can bottom out and recover.