AI Data Insight
The latest China Construction New Orders PMI for Q3 (September) 2026 came in at 45.7, a significant rebound of 3.3 percentage points from the previous reading of 42.4. Although it remains in the contraction zone, the decline has narrowed significantly. Benefiting from the arrival of the peak construction season and the issuance of policy-based financial instruments, the overall Non-manufacturing PMI unexpectedly rose to 50.2, beating expectations. The market anticipates that subsequent fiscal policies can further mitigate the downside risks dragged by the housing market.