China’s NBS Composite PMI Output Index slipped to 50.0 in October 2025 from 50.6 in the previous month, marking the lowest level since December 2022. Manufacturing activity shrank for the seventh straight month, as exporters’ efforts to boost overseas shipments have largely fueled price competition rather than lifted sales. Meanwhile, the ongoing trade dispute with U.S. President Donald Trump has prompted some factory owners to reduce exposure to the world’s largest consumer market. Meanwhile, the services sector remained subdued amid persistently weak consumer demand and cautious business sentiment. So far, authorities have shown little urgency to introduce major stimulus measures, following a round of consumer loan subsidies rolled out in mid-August.
作者：Farida Husna，文章来源tradingeconomics，版权归原作者所有，如有侵权请联系本人删除。
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