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China's Manufacturing PMI Shows Signs of Recovery

10/1/2025

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Summary

Story summary

China’s September manufacturing Purchasing Managers' Index (PMI) stood at 49.8, signaling milder contraction, with production at 51.9, a six-month high.
RatingDog's PMI rose to 51.2, driven by stronger domestic and export orders, its highest since May.
Industrial profits rose in August, attributed to government measures addressing supply excesses and price competition, ahead of October's Politburo meeting to sustain 5% target.

History

Historical Context

In 2015, China's manufacturing sector faced significant challenges, with the Purchasing Managers' Index (PMI) dropping to 47.0, indicating severe contraction. The National Bureau of Statistics reported a 2.3% decline in industrial profits that year. As of 2023, a PMI of 49.8 reflects ongoing struggles, underscoring the lasting impact of previous economic policies on China's manufacturing landscape and its 5% growth target.

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Story summary

China’s September manufacturing Purchasing Managers' Index (PMI) stood at 49.8, signaling milder contraction, with production at 51.9, a six-month high.
RatingDog's PMI rose to 51.2, driven by stronger domestic and export orders, its highest since May.
Industrial profits rose in August, attributed to government measures addressing supply excesses and price competition, ahead of October's Politburo meeting to sustain 5% target.

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