AI Data Insight
According to the latest data, the backlog of orders index within China's non-manufacturing PMI recorded 44.2 in May 2026 (Q2), slightly up from the previous value of 43.8, but still deep below the boom-bust line. Although the overall non-manufacturing PMI rebounded to the expansionary zone of 50.1 under the holiday effect, the accumulation of corporate orders on hand still faces the challenge of an uneven domestic demand recovery.