The National Bureau of Statistics (NBS) manufacturing PMI, published on 31 July, fell 1.1 points to 49.2. New orders dropped to 48.5 and new export orders to 49.6. Small firms fared worst at 47.4. Huo Lihui, chief statistician at the NBS Service Industry Survey Center, pointed to a high base after strong earlier growth and the traditional off-season in some industries.
The raw material purchase price index eased to 53.2, while the factory selling price index fell to 47.8, so producers were absorbing costs rather than passing them on.
The RatingDog survey, published on 3 August, eased to 50.9 from 51.7. New orders still grew and foreign sales rose for the first time in three months. Input cost inflation slowed to its weakest since January and selling prices were unchanged after six months of increases.
Sources
- National Bureau of Statistics of China: Purchasing Managers' Index for July 2026 (opens in a new tab)
- Henan Provincial Government (People's Daily): China's manufacturing PMI drops to 49.2 in July (opens in a new tab)
- Trading Economics: China Factory Activity Growth at 4-Month Low (opens in a new tab)
A summary of the public sources above, checked when it was published. General information, not legal, tax or financial advice.