China's official PMIs return above 50 in September: manufacturing 50.1, non-manufacturing 50.2

China's National Bureau of Statistics (NBS) published its official purchasing managers' indexes for September on 30 September 2026. The manufacturing PMI rose 0.3 point to 50.1, back above the 50 line that separates expansion from contraction, after readings below 50 in the two months before. The non-manufacturing PMI rose 1.2 points to 50.2, and the composite index, which covers both, climbed to 50.7 from 49.5. The figures were reported by Xinhua, quoting the NBS.

Manufacturing

• Headline PMI: 50.1 (August: 49.8)
• Production: 51.7, up 1.3 points
• New orders: 50.5
• Purchases of inputs: 51.0, up 0.5 point
• Input prices (purchasing price index for major raw materials): 60.8, up 4.2 points
• Output prices (ex-factory price index): 54.0, up 3.6 points
• Equipment manufacturing: 51.0; high technology: 52.5; consumer goods: 50.7
• Medium-sized firms: 49.7; small firms: 48.9
• Industries above 50: 12 of 21, four more than in August

NBS chief statistician Huo Lihui said the improvement in the business climate was broad-based. The jump in the price indexes, he said, reflects rising international commodity prices and growing demand in some industries.

Non-manufacturing

Business activity in non-manufacturing was 50.2. Construction rose 3.4 points to 50.3, and services rose 0.9 point to 50.2. As with any PMI, the numbers show the share of firms reporting growth compared with decline, not the size of the change.

What it means

The readings are small moves above the line after two months below it, so they point to stabilisation more than acceleration. The price components are the sharper signal: an input price index of 60.8 means a large majority of firms reported paying more. China's August activity data, with retail sales up 0.4% and industrial output up 5.2%, had been mixed (report), and consumer prices rose just 0.8% on the year (report).

For currencies, China's data matter most for the Australian dollar and for yuan pairs, and PMIs elsewhere are covered in PMIs explained. Live prices: AUD/USD.