On October 31, 2026, the Service Industry Survey Center of the National Bureau of Statistics and the China Federation of Logistics and Purchasing released the China Purchasing Managers' Index. Huo Lihui, chief statistician at the Service Industry Survey Center of the National Bureau of Statistics, explained this. There has been a slowdown on both the supply and demand sides. The manufacturing production index and the new orders index were 49.8% and 49.4%, respectively, down 1.9 and 1.1 percentage points from the previous month. From an industry perspective, the production index and new order index of industries such as railway ships, aerospace equipment, computer communication and electronic equipment are all at 53.0% and above, and production demand activity is high; production indices and new order indices for industries such as textiles, non-metallic mineral products, non-ferrous metal smelting and rolling processing are all below critical points, and both sides of production and demand are weak.

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