AI Data Insight
The newly released Q3 2026 China Non-Manufacturing PMI Employment Index stood at 45.4, unchanged from the previous period's data and remaining deeply mired in the contraction zone. Dragged down by the property market adjustment and sluggish domestic demand, overall non-manufacturing sentiment fell below the boom-bust line, with the expansion willingness in both the construction and service sectors cooling significantly. Going forward, close attention needs to be paid to whether official policies to expand domestic demand and stabilize growth can effectively reverse enterprises' recruitment confidence.