NBS PMI breakdown:

Business production continues to accelerate. The production index stands at 52.9%, a rise of 0.7 percentage points from the previous month, the highest since April 2023, indicating a slight acceleration in the expansion of manufacturing enterprises.

The new order index is at 51.1%, a decrease of 1.9 percentage points from the previous month, but still within the expansion zone, indicating that the market demand for manufacturing continues to recover.

Looking at external demand, the new export order index is 50.6%, a decrease of 0.7 percentage points from the previous month, but still maintaining expansion, indicating that the overall export business of enterprises continues to improve.

New orders and new export orders indices for industries such as food, alcoholic beverages, refined tea, chemical fibers and rubber plastic products, automobiles, and electrical machinery equipment are all above 53.0%, indicating an increase in domestic and international market demand in related industries.