NBS PMI breakdown:

Manufacturing production weakened. The production index drops to 49.8%, a decline of 0.3 percentage points from the previous month.

The new order index is 48.9%, a decrease of 0.4 percentage points from the previous month, worsen.

Looking at external demand, the new export order index is 8.7%, staying in the contraction zone for the fourth month, indicating that the overall export business of enterprises demand is still weak.