AI Data Insight
China's construction new orders index within the non-manufacturing PMI recorded 46.3 in May 2026 (Q2), rebounding by 2.8 percentage points from the previous value of 43.5. Although the data shows a marginal improvement in short-term demand, the overall index has remained below the 50 boom-or-bust line for several consecutive months, reflecting that the weak real estate sector and local fiscal constraints continue to suppress a full recovery in the construction industry.