National Bureau of Statistics: Manufacturing PMI in October was 49.0%, a decrease of 0.8 percentage points month-on-month.

On October 31, the National Bureau of Statistics announced the operating conditions of China's Purchasing Managers' Index (PMI) in October 2025. In October, the manufacturing PMI was 49.0%, a decrease of 0.8 percentage points from the previous month, indicating a slight decline in the manufacturing sector. Looking at the size of enterprises, the PMIs for large, medium, and small enterprises were 49.9%, 48.7%, and 47.1% respectively, all lower than the critical point and lower than the previous month by 1.1, 0.1, and 1.1 percentage points respectively. In terms of classification index, among the five categories that make up the manufacturing PMI, the supplier delivery time index was at the critical point, while the production index, new order index, raw material inventory index, and employment index were all below the critical point. The production index was 49.7%, a decrease of 2.2 percentage points from the previous month, indicating a slowdown in manufacturing production. The new order index was 48.8%, a decrease of 0.9 percentage points from the previous month, indicating a decline in market demand in the manufacturing sector. The raw material inventory index was 47.3%, a decrease of 1.2 percentage points from the previous month, indicating a continued reduction in the inventory of major raw materials in the manufacturing sector. The employment index was 48.3%, a decrease of 0.2 percentage points from the previous month, indicating a slight decline in the labor demand of manufacturing enterprises. The supplier delivery time index was 50.0%, a decrease of 0.8 percentage points from the previous month, at the critical point, indicating that the delivery time of raw materials by suppliers in the manufacturing sector remained relatively stable from the previous month.