China: PMIs point to manufacturing and services improvement – Deutsche Bank

FXStreetSep 30, 2026 1:21 PM

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Deutsche Bank’s Early Morning Reid notes that China’s latest PMI data show a broad-based pickup in activity. The private-sector RatingDog Manufacturing PMI and official manufacturing PMI both strengthened, with the latter returning to expansion. Services and non-manufacturing indices also improved, lifting the composite PMI above 50 and signaling a more supportive backdrop for Chinese equities and growth.

Activity gauges return to expansion

"Early morning data showed that China’s manufacturing sector gained momentum in September, with both private and official surveys pointing to an improvement in economic activity. The private-sector RatingDog Manufacturing PMI rose to 52.1 from 51.5 in August, surpassing expectations of 51.7 and marking its strongest reading since April."

"Separately, China’s official manufacturing PMI increased to 50.1 in September from 49.8 in August, in line with expectations and returning to expansionary territory after two months of contraction. The official non-manufacturing PMI climbed to 50.2 from 49.0, comfortably beating forecasts of 49.2, while the composite PMI rose to 50.7 from 49.5."

(This article was created with the help of an Artificial Intelligence tool and reviewed by an editor. Know more.)

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