AI Data Insight
In Q4 2026, China's Construction PMI New Orders Index plummeted to 40.0, a sharp drop of 5.7 percentage points from the previous Q3 reading of 45.7, falling deeply into contraction territory. The latest macroeconomic data shows a synchronized weakening in both the overall non-manufacturing and construction sectors, highlighting that sluggish domestic demand and the real estate winter are persisting. The market is calling on authorities to step up counter-cyclical policy adjustments.