FX.co ★ China’s Manufacturing PMI Slips Back Into Contraction in October

China’s manufacturing sector showed renewed signs of weakness in October 2026, as the Manufacturing Purchasing Managers’ Index (PMI) fell to 49.3, down from 50.1 in September. The latest reading, released on 31 October 2026, signals a move back into contraction territory after briefly crossing the 50-point threshold that separates expansion from contraction.

The September 2026 figure of 50.1 had raised hopes that industrial activity was stabilizing, but October’s decline suggests that underlying momentum remains fragile. A PMI below 50 typically points to shrinking manufacturing output, softer new orders, or growing pressures on producers, all of which can weigh on broader economic performance.

The slip in the index will likely reinforce concerns about the durability of China’s industrial recovery and could intensify focus on potential policy support measures aimed at bolstering demand and shoring up factory activity in the months ahead.