For the first time in six months, Chinese manufacturers reduced ex-factory selling prices. The output-price sub-index dropped to **.* in June from **.* in May. Since readings below ** indicate declining prices, the index points to growing price competition among manufacturers. Meanwhile, the input-cost sub-index fell to **.* from **.*, marking its lowest level in six months and indicating that cost pressures are easing.
The pricing signal is clear: production costs are moderating, and manufacturers are already passing those savings through to export pricing.
What**;s really driving china**;s manufacturing rebound
The strongest contributor was AI-related and advanced manufacturing. NBS data showed the high-tech equipment PMI climbed to **.*, comfortably outperforming the headline reading. By contrast, the consumer goods PMI which includes apparel, footwear and home textiles registered only **.*, indicating considerably weaker momentum.
