Guangzhou (JLC), October 31, 2025--China's manufacturing purchasing managers' index (PMI) softened in October due to front-loaded demand before the National Day holidays and a more complex international environment, according to data from the National Bureau of Statistics of China (NBS).
The manufacturing PMI stood at 49.0%, down 0.8 percentage points from September, staying below the 50% mark for the seventh straight month.
In breakdown, the production and new orders sub-indexes registered 49.7% and 48.8%, respectively, falling 2.2 and 0.9 percentage points from the previous month, signaling moderating production activity and market demand.
Meanwhile, the sub-index for raw material inventories fell 1.2 percentage points to 47.3%, while that for employment dropped 0.2 percentage points to 48.3%, and that for distributor delivery declined 0.8 percentage points to 50.0%.
Notably, the PMI for high-tech manufacturing, equipment manufacturing, and the consumer goods sector stood at 50.5%, 50.2%, and 50.1%, respectively, outperforming the broader manufacturing PMI, underscoring their sustained role as key economic pillars.
Non-manufacturing index picks up
China’s non-manufacturing commercial index, which includes services and construction sub-indexes, inched up 0.1 percentage point from September to 50.1%, suggesting a slight expansion in the sector, the NBS data indicated.
Specifically, the construction sector's activity index edged down 0.2 percentage points month on month to 49.1%, while the services index rose to 50.2%.
At the same time, boosted by holiday spending, service sectors like railway and air transport, accommodation, and entertainment saw their PMI stay above 60%.
The indexes for the retail and property sectors, however, were still below the 50% mark, the NBS said.
In October, the composite PMI output index, which combines manufacturing and non-manufacturing activity, registered 50.0%, indicating overall stable business production and operations.
