National Bureau of Statistics: The purchasing managers' index (PMI) for the manufacturing sector in September was 49.8%, an increase of 0.4 percentage points from the previous month.

On September 30th, the National Bureau of Statistics released the operating conditions of the China Purchasing Managers' Index (PMI) in September 2025. In September, the manufacturing PMI was 49.8%, up by 0.4 percentage points from the previous month, indicating a continued improvement in the manufacturing sector. In terms of enterprise size, the PMI for large enterprises was 51.0%, up by 0.2 percentage points from the previous month, above the critical point; the PMI for medium-sized enterprises was 48.8%, down by 0.1 percentage point from the previous month, below the critical point; and the PMI for small enterprises was 48.2%, up by 1.6 percentage points from the previous month, still below the critical point. In terms of the sub-indices that make up the manufacturing PMI, the production index and supplier delivery time index were both above the critical point, while the new orders index, raw material inventory index, and employment index were below the critical point. The production index was 51.9%, up by 1.1 percentage points from the previous month, indicating an accelerated expansion in manufacturing production. The new orders index was 49.7%, up by 0.2 percentage points from the previous month, indicating a continued improvement in market demand for manufacturing. The raw material inventory index was 48.5%, up by 0.5 percentage points from the previous month, indicating a continued narrowing of the decline in major raw material inventories in manufacturing. The employment index was 48.5%, up by 0.6 percentage points from the previous month, indicating an improvement in the employment outlook in the manufacturing sector. The supplier delivery time index was 50.8%, up by 0.3 percentage points from the previous month, indicating a continued acceleration in the delivery time of raw materials for manufacturing. In September, the non-manufacturing business activity index was 50.0%, down by 0.3 percentage points from the previous month, at the critical point, with overall stability in non-manufacturing business volume. By industry, the business activity index for the construction industry was 49.3%, up by 0.2 percentage points from the previous month; the business activity index for the service industry was 50.1%, down by 0.4 percentage points from the previous month. In the service industry, the business activity index for postal, telecommunications, broadcasting, television, and satellite transmission services, as well as monetary and financial services, were all in the high prosperity range of above 60.0%; while the business activity index for catering, real estate, culture, sports, and entertainment industries were below the critical point. The new orders index was 46.0%, down by 0.6 percentage points from the previous month, indicating a decline in market demand for non-manufacturing. By industry, the new orders index for the construction industry was 42.2%, up by 1.6 percentage points from the previous month; and the new orders index for the service industry was 46.7%, down by 1.0 percentage points from the previous month. The input price index was 49.0%, down by 1.3 percentage points from the previous month, indicating an overall decrease in input prices for non-manufacturing operations. By industry, the input price index for the construction industry was 47.2%, down by 7.4 percentage points from the previous month; and the input price index for the service industry was 49.3%, down by 0.2 percentage points from the previous month. The selling price index was 47.3%, down by 1.3 percentage points from the previous month, below the critical point, indicating a continued overall decline in selling prices for non-manufacturing. By industry, the selling price index for the construction industry was 48.1%, down by 1.6 percentage points from the previous month; and the selling price index for the service industry was 47.2%, down by 1.3 percentage points from the previous month. The employment index was 45.0%, down by 0.6 percentage points from the previous month, indicating a slight decline in employment outlook for non-manufacturing enterprises. By industry, the employment index for the construction industry was 39.7%, down by 3.9 percentage points from the previous month; and the employment index for the service industry was 45.9%, unchanged from the previous month. The business activity expectations index was 55.7%, down by 0.5 percentage points from the previous month, but still in a high prosperity range, indicating the majority of non-manufacturing enterprises remain optimistic about market development. By industry, the business activity expectations index for the construction industry was 52.4%, up by 0.7 percentage points from the previous month; and the business activity expectations index for the service industry was 56.3%, down by 0.7 percentage points from the previous month. In September, the comprehensive PMI output index was 50.6%, up by 0.1 percentage points from the previous month, continuing to remain above the critical point, indicating a continued acceleration in overall expansion of business operations in China. This article was compiled from the official website of the National Bureau of Statistics; GMTEight editor: Chen Xiaoyi.