China’s September official PMI returned to expansion, but the survey says more about breadth than output
In Beijing on 30 September 2026, the National Bureau of Statistics and the China Federation of Logistics and Purchasing reported a manufacturing PMI of 50.1, a non-manufacturing business activity index of 50.2 and a composite PMI output index of 50.7. Those readings show a month-on-month return to expansion by official diffusion measures, but they do not by themselves establish how much output,收入,
