China Manufacturing PMI Returns to Expansion at 50.3% in June 2026
China's manufacturing purchasing managers' index (PMI) rose 0.3 percentage points month-on-month to 50.3% in June 2026, returning to expansion territory. Large enterprise PMI slipped to 50.7%, medium enterprise PMI jumped to 50.5%, while small enterprise PMI fell to 48.2%. The production and new orders sub-indices both remained above the threshold. The non-manufacturing business activity index edged up to 50.2%, and the composite PMI output index stood at 50.6%.
In June, the manufacturing purchasing managers' index (PMI) stood at 50.3%, up 0.3 percentage points from the previous month, returning to expansion territory. By enterprise scale, the PMI for large enterprises was 50.7%, down 0.4 percentage points from the previous month but still above the threshold; the PMI for medium enterprises was 50.5%, up 1.9 percentage points from the previous month, above the threshold; the PMI for small enterprises was 48.2%, down 0.3 percentage points from the previous month, below the threshold. Among the five sub-indices that constitute the manufacturing PMI, the production index and the new orders index were above the threshold, while the raw materials inventory index, the employment index, and the supplier delivery time index were all below the threshold. The production index was 51.4%, up 0.2 percentage points from the previous month; the new orders index was 51.2%, up 1.3 percentage points; the raw materials inventory index was 48.4%, down 0.2 percentage points; the employment index was 48.5%, down 0.1 percentage points; the supplier delivery time index was 49.9%, up 0.7 percentage points.
In June, the non-manufacturing business activity index was 50.2%, up 0.1 percentage points from the previous month. By industry, the construction business activity index was 49.0%, up 0.2 percentage points from the previous month; the services business activity index was 50.4%, up 0.1 percentage points. Among services, the business activity indices for telecommunications, broadcasting, television and satellite transmission services, internet software and information technology services, monetary financial services, and insurance were all above 55.0%; the business activity indices for air transport and real estate were below the threshold. The new orders index was 48.0%, up 3.0 percentage points from the previous month, with the construction new orders index at 46.3% and the services new orders index at 48.4%. The input price index was 49.7%, down 2.5 percentage points from the previous month, with the construction input price index at 50.4% and the services input price index at 49.6%.
The sales price index was 48.4%, down 0.4 percentage points from the previous month, with the construction sales price index at 49.8% and the services sales price index at 48.2%. The employment index was 45.8%, up 0.2 percentage points from the previous month, with the construction employment index at 42.3% and the services employment index at 46.4%.
In June, the composite PMI output index was 50.6%, up 0.1 percentage points from the previous month.