AI Data Insight
In Q3 2026, China's Non-Manufacturing PMI Backlog of Orders Index fell to 43.3, contracting further from 44.2 in Q2 2026, indicating a continued weakening of order momentum. Dragged down by extreme weather and a real estate slump, the overall Non-Manufacturing PMI fell below the boom-bust line to 49.0. Short-term pressures of domestic demand contraction remain, and future economic recovery will highly depend on the implementation effectiveness of official infrastructure investments and stimulus policies.