{"id":439071,"date":"2026-09-30T09:19:15","date_gmt":"2026-09-30T02:19:15","guid":{"rendered":"https:\/\/www.swingfish.trade\/blog\/market-news\/china-official-manufacturing-pmi-returns-to-growth-at-50-1-non-manufacturing-50-2-439071\/"},"modified":"2026-09-30T09:19:15","modified_gmt":"2026-09-30T02:19:15","slug":"china-official-manufacturing-pmi-returns-to-growth-at-50-1-non-manufacturing-50-2","status":"publish","type":"post","link":"https:\/\/www.swingfish.trade\/blog\/market-news\/china-official-manufacturing-pmi-returns-to-growth-at-50-1-non-manufacturing-50-2-439071\/","title":{"rendered":"China official manufacturing PMI returns to growth at 50.1, non-manufacturing 50.2"},"content":{"rendered":"<div>\n<p dir=\"ltr\">A return to growth in the official manufacturing survey, alongside a jump in the non-manufacturing index, gives China-sensitive assets a supportive final data point before the holiday. Factory strength matters for industrial commodities, including oil, and <a href=\"https:\/\/investinglive.com\/news\/ratingdog-china-manufacturing-pmi-52-1-tops-forecast-services-51-6-also-beats\/\" rel=\"follow\">RatingDog&#8217;s finding<\/a> that manufacturers&#8217; input costs are being pushed up by metals and oil suggests demand for those inputs is holding up. Still, the official readings sit close to the 50 line and domestic demand remains weak, so the market is likely to keep looking to policy support for further upside. The gap between the official 50.1 and the private-sector 52.1 will also draw attention, since it leaves the strength of the recovery open to debate.<\/p>\n<p dir=\"ltr\">&#8212;<\/p>\n<p dir=\"ltr\"><a href=\"https:\/\/investinglive.com\/news\/china-official-manufacturing-pmi-september-expected-prior\/\" rel=\"follow\">China&#8217;s official PMIs<\/a> moved back above 50 in September as factories resumed and AI demand helped, though weak domestic demand keeps pressure on Beijing for more support.<\/p>\n<p dir=\"ltr\">Summary:<\/p>\n<ul dir=\"ltr\">\n<li>China&#8217;s official manufacturing PMI rose to 50.1 in September from 49.8, matching the Reuters poll forecast and ending two straight months of contraction.<\/li>\n<li>The manufacturing new orders sub-index was 50.5 and production was 51.7.<\/li>\n<li>The official non-manufacturing PMI, covering services and construction, rose to 50.2 from 49.0, above the forecast of 49.3.<\/li>\n<li>The RatingDog manufacturing PMI rose to 52.1 from 51.5 (forecast 51.6), services rose to 51.6 from 51.4 (forecast 51.1), and composite rose to 52.4 from 52.1.<\/li>\n<li>Easing weather disruptions and a global AI boom helped factories, while retail sales and investment remain weak.<\/li>\n<li>China unveiled measures on Tuesday to steer cheaper credit into sectors including infrastructure and technology, and the US and China agreed to pursue tariff cuts on $60 billion of goods each.<\/li>\n<\/ul>\n<p dir=\"ltr\">\nChina&#8217;s factory activity returned to growth in September, according to the official survey from the National Bureau of Statistics (NBS), as easing weather disruptions allowed factories to resume operations and a global artificial intelligence boom supported the industrial sector. The official manufacturing purchasing managers&#8217; index (PMI) rose to 50.1 from 49.8 in August, ending two straight months of contraction. That matched the median forecast in a Reuters poll. The 50 mark separates expansion from contraction, and the new orders sub-index stood at 50.5 while the production sub-index was 51.7.<\/p>\n<p dir=\"ltr\">The NBS non-manufacturing PMI, which covers services and construction, also improved, rising to 50.2 from 49.0 in August. That was above the forecast of 49.3 and moved the index back above 50. The data were released at 01:30 GMT on Wednesday, ahead of a week-long Chinese holiday that starts on Thursday.<\/p>\n<p dir=\"ltr\">The private-sector surveys were stronger. The RatingDog China General Manufacturing PMI rose to 52.1 from 51.5, above the 51.6 forecast and the highest in five months, while the services PMI rose to 51.6 from 51.4, above the 51.1 forecast, and the composite index rose to 52.4 from 52.1. RatingDog said manufacturers faced the strongest input price inflation in four months, driven mainly by metals and oil, while services firms cut their selling prices at the fastest rate in almost four and a half years. Reuters described the official manufacturing reading as broadly in line with the RatingDog survey, although the private-sector figure is well above it.<\/p>\n<p dir=\"ltr\">The improvement comes against a weak domestic backdrop. Reuters noted that a run of soft readings has increased pressure on policymakers to roll out more support, as retail sales and investment remain weak. China unveiled measures on Tuesday designed to steer cheaper credit into a range of sectors including infrastructure and technology, and to expand support for home buyers. ING chief economist for Greater China Lynn Song said that although these themes have featured in earlier policy statements, a fresh round of support could help shore up the economy&#8217;s weakest areas.<\/p>\n<p dir=\"ltr\">China has leaned heavily on exports and industrial production to support growth this year, and its global trade surplus is on pace to top $1 trillion for a second straight year. Geopolitical uncertainty and growing trade frictions pose risks to the export outlook, although China and the United States said on Monday that they will pursue tariff cuts on $60 billion of goods imported from each other. Notable omissions on both sides included non-seed soybeans, the biggest US agricultural export to China.<\/p>\n<p dir=\"ltr\">With the holiday about to begin, attention will turn to the first data after the break for a sign of whether the September rebound in the official surveys can be sustained.<\/p>\n<p dir=\"ltr\">\n<p dir=\"ltr\">China&#8217;s week long holiday begins tomorrow, Thursday, October 1, 2026.\u00a0<\/p>\n<p>                            This article was written by Eamonn Sheridan at investinglive.com.<\/p><\/div>\n","protected":false},"excerpt":{"rendered":"<p>A return to growth in the official manufacturing survey, alongside a jump in the non-manufacturing index, gives China-sensitive assets a supportive final data point before the holiday. Factory strength matters for industrial&hellip;<\/p>\n","protected":false},"author":216,"featured_media":0,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[86],"tags":[],"class_list":["post-439071","post","type-post","status-publish","format-standard","hentry","category-market-news"],"_links":{"self":[{"href":"https:\/\/www.swingfish.trade\/blog\/wp-json\/wp\/v2\/posts\/439071","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.swingfish.trade\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.swingfish.trade\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.swingfish.trade\/blog\/wp-json\/wp\/v2\/users\/216"}],"replies":[{"embeddable":true,"href":"https:\/\/www.swingfish.trade\/blog\/wp-json\/wp\/v2\/comments?post=439071"}],"version-history":[{"count":0,"href":"https:\/\/www.swingfish.trade\/blog\/wp-json\/wp\/v2\/posts\/439071\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.swingfish.trade\/blog\/wp-json\/wp\/v2\/media?parent=439071"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.swingfish.trade\/blog\/wp-json\/wp\/v2\/categories?post=439071"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.swingfish.trade\/blog\/wp-json\/wp\/v2\/tags?post=439071"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}