AI Data Insight
In April 2026, China's Non-Manufacturing PMI Backlog of Orders Index recorded 43.8, slightly rebounding by 1.4 percentage points from 42.4 in the previous month, but it remains deep below the boom-bust line. Coupled with the overall non-manufacturing PMI falling below the 50 boom-bust line to 49.4 in the same month, this indicates a decline in new enterprise orders under the dual pressure of a sluggish housing market and weak domestic demand. Looking ahead, it is necessary to closely monitor whether official stimulus policies can effectively boost demand and drive the recovery of backlogged orders and the overall business climate.