Interpretation from the National Bureau of Statistics: The purchasing managers' index rose to an expansion range in September, and the manufacturing industry boom expanded

The Zhitong Finance App learned that on September 30, Huo Lihui, chief statistician at the Service Industry Survey Center of the National Bureau of Statistics, interpreted the September 2026 China Purchasing Managers' Index. In September, the manufacturing PMI rose to 50.1%, returning to the expansion range. Of the 21 industries surveyed, the PMI for 12 industries was above the critical point, an increase of 4 over the previous month, and the boom in the manufacturing industry expanded. The manufacturing production index was 51.7%, up 1.3 percentage points from the previous month, and the new orders index was 50.5%, a slight decrease of 0.1 percentage points from the previous month. Both indices were above critical points, and production and market demand of manufacturing enterprises continued to improve. From an industry perspective, the production index and new order index for agricultural and sideline food processing, pharmaceuticals and other industries were above 55.0%, and production demand from related enterprises were released relatively quickly; production indices and new order indices for industries such as chemical raw materials and chemicals, ferrous metal smelting and rolling processing all continued to fall below the critical point.

The original text is as follows:

The purchasing managers' index rose to an expansion range in September

——Huo Lihui, chief statistician of the Service Industry Survey Center of the National Bureau of Statistics, interprets the September 2026 China Purchasing Managers' Index

On September 30, 2026, the Service Industry Survey Center of the National Bureau of Statistics and the China Federation of Logistics and Purchasing released the China Purchasing Managers' Index. Huo Lihui, chief statistician at the Service Industry Survey Center of the National Bureau of Statistics, explained this.

In September, the manufacturing purchasing managers' index, non-manufacturing business activity index, and composite PMI output index were 50.1%, 50.2%, and 50.7%, respectively, up 0.3, 1.2 percentage points from the previous month, and the level of economic sentiment rebounded.

1. The manufacturing purchasing managers' index rebounded for two consecutive months

In September, the manufacturing PMI rose to 50.1%, returning to the expansion range. Of the 21 industries surveyed, the PMI for 12 industries was above the critical point, an increase of 4 over the previous month, and the boom in the manufacturing industry expanded.

(1) Both sides of production and demand continue to expand. The manufacturing production index was 51.7%, up 1.3 percentage points from the previous month, and the new orders index was 50.5%, a slight decrease of 0.1 percentage points from the previous month. Both indices were above critical points, and production and market demand of manufacturing enterprises continued to improve. From an industry perspective, the production index and new order index for agricultural and sideline food processing, pharmaceuticals and other industries were above 55.0%, and production demand from related enterprises were released relatively quickly; production indices and new order indices for industries such as chemical raw materials and chemicals, ferrous metal smelting and rolling processing all continued to fall below the critical point. In order to meet production needs, the company further accelerated the procurement of raw materials. The purchase volume index was 51.0%, up 0.5 percentage points from the previous month.

(2) The price index continues to rise. Affected by factors such as the recent rise in international commodity prices and increased demand in some industries, the purchase price index of major raw materials and the ex-factory price index have all rebounded for two consecutive months, and the overall price level of the manufacturing market has risen markedly. The purchase price index and ex-factory price index for major raw materials in the manufacturing industry were 60.8% and 54.0%, respectively, up 4.2 and 3.6 percentage points from the previous month. From an industry perspective, with the sharp rise in international crude oil prices, the price indices for petroleum, coal and other fuel processing, chemical raw materials, and chemical products both rose to a high level of more than 60.0%.

(3) The three key industries are expanding rapidly. The PMI for the equipment manufacturing industry, high-tech manufacturing industry, and consumer goods industry was 51.0%, 52.5%, and 50.7% respectively, all above the critical point, and enterprises in related industries are generally active in production and operation. The PMI for the high-energy sector was 48.0%, up 0.1 percentage points from the previous month, and the boom level improved.

(4) Improvement in the SME boom. The PMI for large manufacturing enterprises was 50.6%, the same as last month, and large enterprises continued to expand; the PMI for medium-sized enterprises and small enterprises was 49.7% and 48.9%, respectively, up 0.3 and 1.0 percentage points from the previous month, and prosperity has rebounded.

2. The index of non-manufacturing business activity rebounded markedly

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 level of non-manufacturing sentiment improved markedly.

(1) The index of business activity in the service sector rose to an expansion range. The index of business activity in the service sector was 50.2%, up 0.9 percentage points from the previous month, rising above the critical point, and market activity in the service sector rebounded. From an industry perspective, the index of business activity in telecommunications, radio and television, satellite transmission services, monetary and financial services, insurance and other industries is above 55.0%, which is in a high boom range. The total business volume of related enterprises continues to grow rapidly; the index of business activity in capital market services, real estate and other industries is running low. The expected index of business activity in the service sector is 55.5%, and the recent development of the service sector is expected to continue to improve.

(2) The index of business activity in the construction industry rose to a high point during the year. The index of business activity in the construction industry was 50.3%, up 3.4 percentage points from the previous month. Returning to the expansion range, construction progress in the construction industry accelerated. The expected index of business activity in the construction industry is 55.4%, and construction companies have increased their confidence in future market development.

3. The composite PMI output index is 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. The overall production and operation activities of Chinese enterprises expanded compared to the previous month. The manufacturing production index and the non-manufacturing business activity index, which make up the composite PMI output index, are 51.7% and 50.2%, respectively.

This article was edited by the National Bureau of Statistics, Zhitong Finance Editor: Chen Siyu.