China manufacturing PMI falls to 49.3 in October
China's National Bureau of Statistics released October purchasing managers' indices on 31 October. Manufacturing PMI fell 0.8 percentage points to 49.3, while the composite output index fell 1.0 point to 49.7. These survey measures are not equivalent percentage changes in industrial output.
The story explained
China’s National Bureau of Statistics released October purchasing managers’ indices on 31 October. Manufacturing PMI fell 0.8 percentage points to 49.3, while the composite output index fell 1.0 point to 49.7. These survey measures are not equivalent percentage changes in industrial output.
Manufacturing production and new orders stood at 49.8 and 49.4, down 1.9 and 1.1 points respectively. Equipment manufacturing remained above the 50 threshold at 50.6, while high-tech manufacturing registered 51.3, showing differing sector conditions.
The input-price index was 56.8 and the factory-gate price index 51.7, down 4.0 and 2.3 points but still above 50. These are survey indices, not steel spot prices, futures quotations or finished-valve prices; no currency, material grade or dimensional specification applies.
Construction activity fell to 48.0, while expectations stood at 52.3. Current activity and expectations describe different conditions. Project milestones and actual procurement records remain necessary to assess equipment demand.
Why it matters
Editorial analysis: Demand and cost signals should be assessed separately; macro indices do not establish valve prices or orders.
Relevant toValve, pump and process engineering teams
What to watch next
Track subsequent order indices, actual material quotations and project starts.
These are research prompts, not announced tenders or confirmed subsequent developments.
国家统计局
国家统计局服务业调查中心首席统计师霍丽慧解读2026年10月中国采购经理指数
This is an independently written summary and analysis, not an official translation. Project plans and status may change.