China’s official NBS Manufacturing PMI increased to 50.3 in June 2026 from 50.0 in the previous month, surpassing market expectations of 50.1.
It was the fourth consecutive month of expansion in factory activity, supported by accelerated output growth (51.4 vs 51.2 in May), while new orders expanded after contracting in the previous month (51.2 vs 49.9), with foreign orders also returning to expansion (50.1 vs 48.6).
However, employment remained subdued (48.4 vs 48.6), while purchasing activity returned to expansion (51.4 vs 49.8) and supplier delivery times improved (49.9 vs 49.2).
On the price front, input cost inflation eased but remained elevated (54.2 vs 60.5), while output prices fell for the first time in six months (48.2 vs 51.9).
Finally, business sentiment strengthened slightly (54.3 vs 53.9).