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China's Manufacturing PMI Plummets Amid Property Market Woes

11/2/2025

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Summary

Story summary

The official PMI for China's manufacturing sector fell to 49.0 in October, indicating seven months of contraction.
Weak domestic demand and a troubled property market contributed to the downturn, with new-home sales down 41.9% year-over-year.
Sales by the top 100 property companies reached 253 billion yuan.
Industrial and Commercial Bank of China reported steady profits, while analysts expect further declines in home sales and call for stronger government support.

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Story summary

The official PMI for China's manufacturing sector fell to 49.0 in October, indicating seven months of contraction.
Weak domestic demand and a troubled property market contributed to the downturn, with new-home sales down 41.9% year-over-year.
Sales by the top 100 property companies reached 253 billion yuan.
Industrial and Commercial Bank of China reported steady profits, while analysts expect further declines in home sales and call for stronger government support.