The RatingDog China Manufacturing PMI edged down to 52.0 in October 2026 from September’s five-month high of 52.1, but surpassed forecasts of 51.6. It was the eleventh straight month of expansion and signalled the longest streak of improving manufacturing sector health since mid-2021. Output expanded at a sharp pace, the fastest in six months, supported by another solid increase in new work inflows. Demand growth was driven by the launch of new products, with overseas demand also rising, although growth eased from September. In response to rising new orders, firms increased purchasing activity, while vendor performance times shortened for the first time since February, amid improved supplier efficiency. On prices, input cost inflation eased, while selling prices fell as firms sought to support sales amid intense competition. Looking ahead, business sentiment weakened to a nine-month low amid concerns over elevated input prices and heightened competition