AI Data Insight
According to the latest data, China's non-manufacturing PMI input price index for May 2026 dropped significantly from 52.2 in the previous month to 49.7, officially falling below the 50 boom-bust line. Although the overall non-manufacturing PMI rebounded driven by the May Day holiday, the reversal in input prices indicates that cost-side pressures in the services and construction sectors have eased, while also highlighting the issue of insufficient terminal demand.