AI Data Insight
China's September 2026 (Q3) non-manufacturing PMI new orders index significantly rebounded to 46.5 from 44.1 in the previous month, but remains below the 50 boom-bust line. Although the government recently introduced a large-scale stimulus package that brought overall non-manufacturing business activity back into the expansionary zone, the new orders data highlights that real demand has not yet fully recovered, and the momentum of the subsequent recovery still faces challenges.