{"version":"1","article":{"id":"china-manufacturing-pmi-september-2026","slug":"china-manufacturing-pmi-september-2026","language":"en","url":"https://haberpaper.com/en/news/china-manufacturing-pmi-september-2026","api_url":"https://haberpaper.com/api/v1/articles/china-manufacturing-pmi-september-2026?lang=en","title":"China’s manufacturing PMI moves back above the expansion threshold in September","summary":"The National Bureau of Statistics’ manufacturing PMI rose from 49.8 in August to 50.1, as production strengthened while the employment index declined.","category":"economy","region":"world","topics":[],"published_at":"2026-10-04T01:07:24+03:00","modified_at":"2026-10-04T01:07:24+03:00","publication_basis":"publication-record","event_period":"2026-09","event_period_basis":"event-or-reference-period","sources":[{"name":"National Bureau of Statistics of China","url":"https://www.stats.gov.cn/sj/zxfbhjd/202609/t20260930_1965449.html","checkedAt":"2026-10-03","publishedAt":"2026-09-30"}],"translations":[{"language":"tr","url":"https://haberpaper.com/tr/news/china-manufacturing-pmi-september-2026","api_url":"https://haberpaper.com/api/v1/articles/china-manufacturing-pmi-september-2026?lang=tr"},{"language":"en","url":"https://haberpaper.com/en/news/china-manufacturing-pmi-september-2026","api_url":"https://haberpaper.com/api/v1/articles/china-manufacturing-pmi-september-2026?lang=en"},{"language":"ar","url":"https://haberpaper.com/ar/news/china-manufacturing-pmi-september-2026","api_url":"https://haberpaper.com/api/v1/articles/china-manufacturing-pmi-september-2026?lang=ar"},{"language":"fr","url":"https://haberpaper.com/fr/news/china-manufacturing-pmi-september-2026","api_url":"https://haberpaper.com/api/v1/articles/china-manufacturing-pmi-september-2026?lang=fr"},{"language":"es","url":"https://haberpaper.com/es/news/china-manufacturing-pmi-september-2026","api_url":"https://haberpaper.com/api/v1/articles/china-manufacturing-pmi-september-2026?lang=es"}],"data_types":["metrics"],"data":{"version":1,"blocks":[{"id":"pmi-components","type":"metrics","title":{"tr":"Eylül PMI göstergeleri","en":"September PMI indicators"},"description":{"tr":"Çin Ulusal İstatistik Bürosunun aylık satın alma yöneticileri anketinden seçili endeksler.","en":"Selected indices from China’s National Bureau of Statistics monthly purchasing managers’ survey."},"methodology":{"tr":"PMI değerleri endeks puanıdır. 50 eşiği aylık genişleme/daralma sinyali verir; üretim hacmi veya büyüme oranı değildir.","en":"PMI values are index points. The threshold of 50 signals monthly expansion or contraction; it is not output volume or a growth rate."},"items":[{"label":{"tr":"İmalat PMI","en":"Manufacturing PMI"},"value":50.1,"unit":"index points","period":"2026-09","basis":"observed","measure":{"id":"china-manufacturing-pmi","unitCode":"index-point","geography":"china","frequency":"monthly","aggregation":"unspecified","periodRole":"reference-period"}},{"label":{"tr":"Ağustos imalat PMI","en":"Manufacturing PMI in August"},"value":49.8,"unit":"index points","period":"2026-08","basis":"observed","measure":{"id":"china-manufacturing-pmi","unitCode":"index-point","geography":"china","frequency":"monthly","aggregation":"unspecified","periodRole":"reference-period"}},{"label":{"tr":"Üretim endeksi","en":"Production index"},"value":51.7,"unit":"index points","period":"2026-09","basis":"observed","measure":{"id":"china-manufacturing-production-index","unitCode":"index-point","geography":"china","frequency":"monthly","aggregation":"unspecified","periodRole":"reference-period"}},{"label":{"tr":"Yeni siparişler endeksi","en":"New orders index"},"value":50.5,"unit":"index points","period":"2026-09","basis":"observed","measure":{"id":"china-manufacturing-new-orders-index","unitCode":"index-point","geography":"china","frequency":"monthly","aggregation":"unspecified","periodRole":"reference-period"}},{"label":{"tr":"Tedarikçi teslim süresi endeksi","en":"Supplier delivery time index"},"value":50.1,"unit":"index points","period":"2026-09","basis":"observed","measure":{"id":"china-manufacturing-delivery-index","unitCode":"index-point","geography":"china","frequency":"monthly","aggregation":"unspecified","periodRole":"reference-period"}},{"label":{"tr":"Hammadde stokları endeksi","en":"Raw materials stocks index"},"value":48.2,"unit":"index points","period":"2026-09","basis":"observed","measure":{"id":"china-manufacturing-input-stocks-index","unitCode":"index-point","geography":"china","frequency":"monthly","aggregation":"unspecified","periodRole":"reference-period"}},{"label":{"tr":"İstihdam endeksi","en":"Employment index"},"value":48.4,"unit":"index points","period":"2026-09","basis":"observed","measure":{"id":"china-manufacturing-employment-index","unitCode":"index-point","geography":"china","frequency":"monthly","aggregation":"unspecified","periodRole":"reference-period"}},{"label":{"tr":"İmalat dışı faaliyet endeksi","en":"Non-manufacturing business activity index"},"value":50.2,"unit":"index points","period":"2026-09","basis":"observed","measure":{"id":"china-nonmanufacturing-activity-index","unitCode":"index-point","geography":"china","frequency":"monthly","aggregation":"unspecified","periodRole":"reference-period"}},{"label":{"tr":"Bileşik çıktı endeksi","en":"Composite output index"},"value":50.7,"unit":"index points","period":"2026-09","basis":"observed","measure":{"id":"china-composite-output-index","unitCode":"index-point","geography":"china","frequency":"monthly","aggregation":"unspecified","periodRole":"reference-period"}}],"sourceUrls":["https://www.stats.gov.cn/sj/zxfbhjd/202609/t20260930_1965449.html"],"updatedAt":"2026-10-03T21:45:21Z"}]},"data_compilations":[{"id":"pmi-components","creator":{"@type":"Organization","@id":"https://haberpaper.com/#organization","name":"Haber Paper","url":"https://haberpaper.com/"},"license":{"@type":"CreativeWork","@id":"https://haberpaper.com/en/data-terms/v1#license","name":"Haber Paper Original Data Compilation License 1.0","url":"https://haberpaper.com/en/data-terms/v1"},"rights_scope":"Haber Paper original data arrangement, labels and methodology notes only; underlying source rights and permissions remain separate.","source_license_url":null}],"data_downloads":[{"id":"pmi-components","formats":{"json":"https://haberpaper.com/api/v1/articles/china-manufacturing-pmi-september-2026/data/pmi-components?lang=en&format=json","csv":"https://haberpaper.com/api/v1/articles/china-manufacturing-pmi-september-2026/data/pmi-components?lang=en&format=csv"}}],"content":{"paragraphs":["China’s National Bureau of Statistics reported a manufacturing purchasing managers’ index (PMI) of 50.1 for September, in figures released on September 30. The index had been 49.8 in August. A reading above the 50 threshold indicates that surveyed businesses reported activity expanding compared with the previous month. It is not a measure of the physical volume of industrial production or the growth rate of the whole economy. PMI is a composite of monthly survey responses from purchasing managers at manufacturing companies, and a small move across the threshold does not mean that conditions improved in every part of the sector.","The components show a mixed picture. The production index rose to 51.7, up 1.3 points from August. The new orders index remained above the threshold at 50.5, although it fell 0.1 point during the month. The suppliers’ delivery-time index was unchanged at 50.1. The raw-material inventory index increased to 48.2 but remained below 50, which is consistent with a continued decline in inventories among surveyed firms. The employment index fell to 48.4, down 0.3 point, indicating weaker employment conditions within the survey measure. Production and orders were above the expansion threshold, while employment and inventories remained below it.","Results also varied by enterprise size. The manufacturing PMI for large enterprises was 50.6, unchanged from August and above the threshold. The index for medium-sized enterprises rose 0.3 point to 49.7, while the small-enterprise index increased 1.0 point to 48.9. Both measures improved but remained below 50. The headline PMI’s return to expansion territory therefore does not show that activity among small and medium-sized manufacturers was expanding. The sub-indexes classify survey responses from firms of different sizes within the same survey framework; they do not count each company’s sales, output or employment individually.","The bureau also reported a non-manufacturing business activity index of 50.2 and a composite PMI output index of 50.7, covering manufacturing and services. The composite measure rose 1.2 points from August. According to the bureau’s methodological note, a PMI above 50 indicates expansion in the relevant activity from the previous month, while a reading below 50 indicates contraction. Because it is a comparison with the prior month, PMI tracks the direction of change rather than the absolute level of output. September’s 50.1 was also below the 50.4 reading recorded in March, so one month above the threshold does not establish a production trend for the year.","The release presents the survey measures as a timely official signal for September 2026, not as final statistics for production, sales, exports or employment. New orders remained just above the threshold while employment was below it; these are separate readings showing that the survey’s order measure and employment measure did not move together. The source does not identify a single cause for that difference. Similarly, stronger production index readings do not mean inventories increased: the inventory sub-index remained below 50. Readers should consider the headline, the components and the survey-based nature of the measure together. This report conveys the bureau’s September results and definitions; it does not forecast growth or make claims about individual companies."],"key_points":[],"sections":[]},"text":"The National Bureau of Statistics’ manufacturing PMI rose from 49.8 in August to 50.1, as production strengthened while the employment index declined.\n\nChina’s National Bureau of Statistics reported a manufacturing purchasing managers’ index (PMI) of 50.1 for September, in figures released on September 30. The index had been 49.8 in August. A reading above the 50 threshold indicates that surveyed businesses reported activity expanding compared with the previous month. It is not a measure of the physical volume of industrial production or the growth rate of the whole economy. PMI is a composite of monthly survey responses from purchasing managers at manufacturing companies, and a small move across the threshold does not mean that conditions improved in every part of the sector.\n\nThe components show a mixed picture. The production index rose to 51.7, up 1.3 points from August. The new orders index remained above the threshold at 50.5, although it fell 0.1 point during the month. The suppliers’ delivery-time index was unchanged at 50.1. The raw-material inventory index increased to 48.2 but remained below 50, which is consistent with a continued decline in inventories among surveyed firms. The employment index fell to 48.4, down 0.3 point, indicating weaker employment conditions within the survey measure. Production and orders were above the expansion threshold, while employment and inventories remained below it.\n\nResults also varied by enterprise size. The manufacturing PMI for large enterprises was 50.6, unchanged from August and above the threshold. The index for medium-sized enterprises rose 0.3 point to 49.7, while the small-enterprise index increased 1.0 point to 48.9. Both measures improved but remained below 50. The headline PMI’s return to expansion territory therefore does not show that activity among small and medium-sized manufacturers was expanding. The sub-indexes classify survey responses from firms of different sizes within the same survey framework; they do not count each company’s sales, output or employment individually.\n\nThe bureau also reported a non-manufacturing business activity index of 50.2 and a composite PMI output index of 50.7, covering manufacturing and services. The composite measure rose 1.2 points from August. According to the bureau’s methodological note, a PMI above 50 indicates expansion in the relevant activity from the previous month, while a reading below 50 indicates contraction. Because it is a comparison with the prior month, PMI tracks the direction of change rather than the absolute level of output. September’s 50.1 was also below the 50.4 reading recorded in March, so one month above the threshold does not establish a production trend for the year.\n\nThe release presents the survey measures as a timely official signal for September 2026, not as final statistics for production, sales, exports or employment. New orders remained just above the threshold while employment was below it; these are separate readings showing that the survey’s order measure and employment measure did not move together. The source does not identify a single cause for that difference. Similarly, stronger production index readings do not mean inventories increased: the inventory sub-index remained below 50. Readers should consider the headline, the components and the survey-based nature of the measure together. This report conveys the bureau’s September results and definitions; it does not forecast growth or make claims about individual companies.","corrections":[],"editorial_illustration":{"kind":"symbolic-editorial-illustration","documentary":false,"scope":"section","asset_id":"economy","url":"https://haberpaper.com/assets/illustrations/economy-1536.webp","width":1536,"height":1024,"alt":"Symbolic trading harbour with a cargo ship, containers and a bridge.","language":"en"},"section_illustration":{"kind":"symbolic-editorial-illustration","documentary":false,"scope":"section","asset_id":"economy","url":"https://haberpaper.com/assets/illustrations/economy-1536.webp","width":1536,"height":1024,"alt":"Symbolic trading harbour with a cargo ship, containers and a bridge.","language":"en"}}}