Latest News Stream - Non Manufacturing Pmi

China’s official NBS Non-Manufacturing PMI fell to 49.7 in October 2026 from September’s three-month high of 50.2, missing market expectations of 50.5 and indicating a contraction in services activity for the sixth time so far this year. By sector, activity weakened in both construction and services, partly reflecting the seasonal impact of the Golden Week break. New orders (44.4 vs 46.5 in September) and export sales (46.5 vs 48.5) contracted at a steeper pace, while employment remained weak (46.0 vs 45.9). On the cost front, input prices continued to rise for a third consecutive month, although at a slower pace (51.5 vs 52.5). Meanwhile, selling prices returned to contraction after a brief increase in September (49.5 vs 50.3). Looking ahead, business confidence eased to an eight-month low (50.7 vs 51.3).

China's official NBS Non-Manufacturing PMI rose to 50.2 in September 2026 from 49 in each of the previous two months, beating market expectations of 49.3. The latest reading signals a return to growth in the non-manufacturing sector, with both construction activity (50.3 vs 46.9 in August) and services activity (50.2 vs 49.3) moving into expansion. Within the services sector, indices for telecommunications, broadcasting, television and satellite transmission services, monetary and financial services, and insurance were all above 55, while indices for capital market services and real estate remained below the 50 threshold. Among the main components, new orders went up (46.5 vs 44.1), reflecting increases in both the construction and services sectors. On the price front, both input prices (52.5 vs 51.1) and sales prices (50.3 vs 49.3) increased. Employment rose slightly (45.9 vs 45.4), while business expectations also improved (55.5 vs 55.0).

China's official NBS Non-Manufacturing PMI held at 49.0 in August 2026, unchanged from July and below expectations of 49.5, pointing to a continued contraction in non-manufacturing activity. The business activity index was unchanged at 49.3, while the construction index edged down to 46.9 from 47.0. Within services, wholesale, retail, and capital market services remained below the 50.0 threshold, while postal services, telecommunications, broadcasting, television and satellite transmission services, and internet software and IT services remained strong. Meanwhile, the new orders index fell to 44.1 from 44.4, indicating weaker market demand, with construction orders rising to 42.4 from 40.1 and services orders declining to 44.5 from 45.2. On prices, input costs rose to 51.1 from 49.7, while sales prices increased to 49.3 from 47.9. Employment was unchanged at 45.4, while business expectations eased to 55.0 from 55.4, indicating firms remained optimistic about future activity.

The ISM Services PMI in the US edged up to 54.1 in July 2026 from 54 in June, slightly below forecasts of 54.5, while continuing to point to expansion in the services sector. Business activity (59.1 vs 55.4), new orders (57.2 vs 55.1) and inventories (51.4 vs 51.2) increased faster but employment returned to contraction territory after only one month in expansion (47.4 vs 51.2). In addition, price pressures increased (70.3 vs 67.7), with petroleum-related products and plastics again reported as commodities up in price, although the number of commodities reported as down in price increased to six, up from three the previous month. Backlog of orders (50.9 vs 54.9) and supplier deliveries (52.8 vs 54.4) slowed. “Tariff impacts and the Middle East conflict continued to be mentioned by respondents, but much less frequently than in prior reports. The World Cup was again cited in the comments regarding increased business activity and new orders”, according to Steve Miller, Chair of the ISM.

China's official NBS Non-Manufacturing PMI fell to 49.0 in July 2026 from 50.2 in June, pointing to a renewed contraction after two months of modest expansion and defying expectations of a flat reading. The business activity index for the services sector declined to 49.3 from 50.4, while the construction index dropped to 47.0 from 49.0. Within services, postal services, telecommunications, broadcasting, and culture and entertainment remained strong, with business activity indices above 55.0, while capital market services and real estate remained in contraction. Meanwhile, the new orders index fell to 44.4 from 48.0, with construction declining to 40.1 from 46.3 and services easing to 45.2 from 48.4. On prices, input costs were unchanged at 49.7, while sales prices slipped to 47.9 from 48.4. Employment also edged down to 45.4 from 45.8. Still, business expectations improved slightly to 55.4 from 55.3, indicating firms remained optimistic about future activity.

China’s official NBS Non-Manufacturing PMI rose to 50.2 in June 2026 from 50.1 in May, defying expectations of a slight contraction to 49.9. The business activity index for the services sector rose by 0.1 percentage point to 50.4, supported by strong activity in telecommunications, internet software and IT services, financial services, and insurance, all above 55. In contrast, the business activity indices for air transport and real estate remained below 50. Meanwhile, the construction index also improved to 49, 0.2 percentage points higher than in May. In terms of new orders, the index improved to 48 from 45. By industry, the new orders index for the construction sector was 46.3 (+2.8 pp), while the service sector came at 48.4 (+3.1 pp). On prices, input prices fell to 49.7 from 52.2, suggesting easing price pressures, while sales prices fell to 48.4 from 48.8. Employment also edged up to 45.8 from 45.6. Lastly, business expectations rose to 55.3 from 54.8, showing improved sentiment.

China’s official NBS Non-Manufacturing PMI rose to 50.1 in May 2026 from 49.4 in the prior month, beating market expectations of 49.5 and returning to expansion territory. The improvement was driven by stronger activity in both the services and construction sectors, amid ongoing policy support and infrastructure-related projects. Demand conditions stabilized, with new orders falling at a slower pace (45.0 vs 44.3 in April), and new export orders improving but remaining in contraction territory (48.1 vs 47.3). Employment stayed weak despite a slight uptick (45.6 vs 45.5), reflecting continued caution among businesses. On the price front, input cost inflation accelerated (52.2 vs 51.7), suggesting higher operating expenses, while a decline in selling prices eased (48.8 vs 48.1), indicating easing deflationary pressures. Lastly, confidence was broadly unchanged from April but remained at its highest level in three months, highlighting cautious optimism about the near-term outlook.

China’s official NBS Non-Manufacturing PMI fell to 49.4 in April 2026 from 50.1 in March, worse than the expected 49.9, signaling a renewed contraction in the services-led sector. The weakness was broad-based across subcomponents, with the business activity index declining for both construction (48.0 vs 49.3 in March) and services (49.6 vs 50.2), as sentiment weakened across most industries, although transport and telecom-related services remained relatively strong. New orders also continued to contract (44.3 vs 45.0), pointing to subdued domestic demand, while employment improved (45.5 vs 45.2) but remained in contraction, reflecting ongoing labor market softness. On prices, input costs edged down slightly (51.7 vs 52.3), while sales prices fell more sharply (48.1 vs 49.9). Meanwhile, business activity expectations strengthened to 54.7 from 54.2, suggesting firms remain cautiously optimistic about future demand despite current weakness.

China’s official NBS Non-Manufacturing PMI rose to 50.1 in March 2026 from 49.5 in the previous month, beating market expectations of 49.9. The latest reading signals a stabilization in the services sector after two consecutive months of contraction. Breaking down the components, the services activity subindex improved (50.2 vs 49.7 in February), while the construction subindex also rose (49.3 vs 48.2), though it continued to reflect stress in China’s struggling property sector. Total new orders continued to decline (45.0 vs 45.2), but the drop was partially offset by an increase in export orders (48.8 vs 44.7). Meanwhile, employment fell further (45.2 vs 46.0), highlighting ongoing labor market slack, whereas supplier delivery times lengthened (51.5 vs 50.5). On prices, input costs climbed (52.3 vs 50.9), while sales prices also went up (49.9 vs 48.8). Lastly, business activity expectations softened (54.2 vs 55.0), but enterprises remain optimistic about market development.

China’s official NBS Non-Manufacturing PMI edged up to 49.5 in February 2026 from 49.4 in the previous month but remained below market expectations of 49.8. The latest reading marked the lowest level since November and signaled a second straight month of contraction in services activity, partly affected by disruptions from the week-long Lunar New Year holiday. New orders fell at a faster pace (45.2 vs 46.1 in January), while foreign demand weakened further (44.7 vs 46.9), underscoring soft external conditions. Employment stayed subdued (46.0 vs 46.1), pointing to ongoing labor market slack. Supplier delivery times shortened (50.5 vs 51.1), indicating improved supply conditions. On the pricing front, input costs rose at a quicker pace (50.9 vs 50.0), while output prices remained in contraction (48.8 vs 48.8). Looking ahead, business confidence eased for the second consecutive month (55.0 vs 56.0), suggesting a more cautious outlook.