NBS Interpretation: In September, the Purchasing Managers' Index rose into the expansion range, and the manufacturing prosperity footprint expanded somewhat.

On September 30, Huo Lihui, Chief Statistician of the Service Survey Center of the National Bureau of Statistics, interpreted China's purchasing managers' index for September 2026. In September, the manufacturing PMI rose to 50.1%, returning to the expansion range. Among the 21 industries surveyed, 12 industries had a PMI above the critical point, an increase of 4 from the previous month, and the prosperity footprint of the manufacturing sector expanded somewhat. The manufacturing production index was 51.7%, up 1.3 percentage points from the previous month, and the new orders index was 50.5%, slightly down 0.1 percentage point from the previous month. Both indices were above the critical point, and manufacturing enterprise production and market demand continued to improve. By industry, the production indices and new orders indices for agricultural and sideline food processing, pharmaceuticals and other industries were all above 55.0%, with production and demand in related enterprises releasing relatively quickly; the production indices and new orders indices for chemical raw materials and chemical products, ferrous metal smelting and rolling processing and other industries all continued to remain below the critical point. The original text is as follows: In September, the Purchasing Managers' Index rose into the expansion range -- Huo Lihui, Chief Statistician of the Service Survey Center of the National Bureau of Statistics, interprets China's purchasing managers' index for September 2026 On September 30, 2026, the Service Survey Center of the National Bureau of Statistics and the China Federation of Logistics & Purchasing released China's purchasing managers' index. In this regard, Huo Lihui, Chief Statistician of the Service Survey Center of the National Bureau of Statistics, provided an interpretation. In September, the manufacturing purchasing managers' index, the non-manufacturing business activity index and the composite PMI output index were 50.1%, 50.2% and 50.7% respectively, up 0.3, 1.2 and 1.2 percentage points from the previous month, and the level of economic prosperity picked up somewhat. I. The manufacturing purchasing managers' index rose for two consecutive months In September, the manufacturing PMI rose to 50.1%, returning to the expansion range. Among the 21 industries surveyed, 12 industries had a PMI above the critical point, an increase of 4 from the previous month, and the prosperity footprint of the manufacturing sector expanded somewhat. (1) Both production and demand remained in expansion. The manufacturing production index was 51.7%, up 1.3 percentage points from the previous month, and the new orders index was 50.5%, slightly down 0.1 percentage point from the previous month. Both indices were above the critical point, and manufacturing enterprise production and market demand continued to improve. By industry, the production indices and new orders indices for agricultural and sideline food processing, pharmaceuticals and other industries were all above 55.0%, with production and demand in related enterprises releasing relatively quickly; the production indices and new orders indices for chemical raw materials and chemical products, ferrous metal smelting and rolling processing and other industries all continued to remain below the critical point. To meet production demand, enterprises further accelerated raw material procurement, and the purchases index was 51.0%, up 0.5 percentage point from the previous month. (2) Price indices continued to rise. Affected by factors such as the recent rise in international commodity prices and increased demand in some industries, the main raw material purchase price index and the ex-factory price index both rebounded for two consecutive months, and the overall level of manufacturing market prices rose noticeably. The manufacturing main raw material purchase price index and ex-factory price index were 60.8% and 54.0% respectively, up 4.2 and 3.6 percentage points from the previous month. By industry, as international crude oil prices rose sharply, both price indices for petroleum coal and other fuel processing, chemical raw materials and chemical products and other industries rose to a high level above 60.0%. (3) The three key industries expanded relatively quickly. The PMIs for equipment manufacturing, high-tech manufacturing and consumer goods industries were 51.0%, 52.5% and 50.7% respectively, all above the critical point, and production and operations in related industry enterprises were generally relatively active. The PMI for high energy-consuming industries was 48.0%, up 0.1 percentage point from the previous month, and the prosperity level improved somewhat. (4) Business conditions for small and medium-sized enterprises improved. The PMI for large manufacturing enterprises was 50.6%, unchanged from the previous month, and large enterprises remained in expansion; the PMIs for medium-sized and small enterprises were 49.7% and 48.9% respectively, up 0.3 and 1.0 percentage point from the previous month, and their prosperity both picked up somewhat. II. The non-manufacturing business activity index rebounded noticeably In September, the non-manufacturing business activity index was 50.2%, up 1.2 percentage points from the previous month, returning to the expansion range, and the prosperity level of the non-manufacturing sector improved noticeably. (1) The service sector business activity index rose into the expansion range. The service sector business activity index was 50.2%, up 0.9 percentage point from the previous month, rising above the critical point, and service sector market activity picked up. By industry, the business activity indices for telecommunications, radio and television and satellite transmission services, monetary financial services, insurance and other industries were all above 55.0%, in a relatively high prosperity range, and the total business volume of related enterprises continued to grow relatively quickly; the business activity indices for capital market services, real estate and other industries operated at a low level. The service sector business activity expectation index was 55.5%, and expectations for service sector development have continued to improve recently. (2) The construction industry business activity index rose to a high for the year. The construction industry business activity index was 50.3%, up 3.4 percentage points from the previous month, returning to the expansion range, and construction progress in the construction industry accelerated somewhat. The construction industry business activity expectation index was 55.4%, and construction enterprises' confidence in future market development improved somewhat. III. The composite PMI output index was above the critical point In September, the composite PMI output index was 50.7%, up 1.2 percentage points from the previous month, rising above the critical point, and overall production and operations activities of Chinese enterprises expanded from the previous month. The manufacturing production index and the non-manufacturing business activity index, which make up the composite PMI output index, were 51.7% and 50.2% respectively. This article is compiled and selected from the National Bureau of Statistics. GMTEight editor: Chen Siyu.