China PMIs from the National Bureau of Statistics (NBS) for September 2025

Manufacturing 49.8, a beat and still in contraction

• expected 49.6, prior 49.4

Non-manufacturing 50.0, a miss and on the mid line between expanding and contracting

• expected 50.3, prior 50.3

Composite 50.6, up a tic

more to come

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Still to come, the private survey PMIs