AI Data Insight
China's August (Q3 2026) non-manufacturing PMI business activity MoM growth rate was 0.0%, with the corresponding index remaining flat at 49.0, which is not only lower than the market expectation of 49.4, but also in the contraction zone for two consecutive months. Both the services and construction sectors are under pressure, indicating that extreme weather and sluggish domestic demand are dragging down overall economic momentum. Future market focus will shift to whether the authorities will roll out stronger pro-consumption and property-stabilization policies to boost the economy.