30.04.202601:40:02UTC+00China Composite PMI Pulls Back from 3-Month Peak

China’s NBS Composite PMI Output Index edged down to 50.1 in April 2026 from March’s three-month high of 50.5, indicating that overall business activity was close to stagnation. A contraction in the services sector more than offset continued resilience in manufacturing output. At the same time, mounting tensions in the Middle East added to uncertainty by fueling fears of higher oil prices, renewed supply-chain disruptions, and softer global demand.

The reading comes as China prepares for a May summit between President Xi Jinping and U.S. President Donald Trump, at which Beijing is expected to seek greater clarity on U.S. trade penalties affecting Chinese goods. The two leaders last met in Busan, South Korea, where they agreed to a trade truce under which Washington reduced the average tariff rate on Chinese imports to about 47%, while Beijing committed to suspending broad export controls on rare earths.