AI Data Insight
At the beginning of the third quarter of 2026 (July), China's Non-Manufacturing PMI New Orders Index dropped sharply to 44.4 from the previous value of 48.0, falling below the boom-or-bust line with a significant decline. The overall Non-Manufacturing PMI simultaneously fell to 49.0, missing market expectations. Demand in both the construction and services sub-sectors is weak, highlighting that macroeconomic expansion momentum is hindered.