AI Data Insight
In Q3 2026, China's manufacturing PMI ex-factory price dropped to 47.8, retreating further from the previous Q2 value of 48.2 and remaining in the contraction zone for two consecutive months. Impacted by sluggish demand and a decrease in new orders, enterprises are facing pressure to cut prices to drive sales. Institutions point out that the continuous price decline reflects that PPI inflation may have already peaked, and the market's expectation for incremental stimulus policies in the second half of the year is becoming increasingly urgent.