# China’s factory and services PMI gauges both drop below 50 as fourth quarter starts on a weak note

> China's official manufacturing PMI fell to 49.3 in October from 50.1, below the 49.9 forecast and back in contraction. The non-manufacturing PMI slipped to 49.7 from 50.2, with officials citing seasonal factors and weaker overseas orders.

- Date: 2026-11-01 · published 2026-11-01T23:41:29.606Z
- Category: macro · region China · magnitude low
- Page: https://feedsoft.ai/events/74247-china-s-factory-and-services-pmi-gauges-both-drop-below-50-as-fourth-quarter
- Commodities: [Crude Oil (WTI)](https://feedsoft.ai/c/WTI.md), [Crude Oil (Brent)](https://feedsoft.ai/c/BRENT.md)

## Why it matters

A weaker Chinese factory and services demand signal points to softer demand for industrial metals, and for China-linked currencies, while oil is likely to be overshadowed by Hormuz supply risk.

## Read by commodity

- WTI: bearish ▼
- BRENT: bearish ▼

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| WTI | 2018-05-26 | [Loonie sinks to two-week low: Is this the start of another big drop? \| CBC News](https://feedsoft.ai/events/65242-loonie-sinks-to-two-week-low-is-this-the-start-of-another-big-drop-cbc-news.md) | -4.6% | +2.0% |
| WTI | 2022-08-01 | [Oil sinks about 4% after weak factory data sparks demand concerns](https://feedsoft.ai/events/12799-oil-sinks-about-4-after-weak-factory-data-sparks-demand-concerns.md) | -9.5% | -6.9% |
| WTI | 2025-01-27 | [Oil hits 2-week low as China's DeepSeek AI spurs demand fears \| Reuters](https://feedsoft.ai/events/26682-oil-hits-2-week-low-as-china-s-deepseek-ai-spurs-demand-fears-reuters.md) | -2.8% | -5.2% |
| WTI | 2020-01-29 | [Canadian dollar nears seven-week low as oil prices fall - The Globe and Mail](https://feedsoft.ai/events/55300-canadian-dollar-nears-seven-week-low-as-oil-prices-fall-the-globe-and-mail.md) | -7.1% | -8.8% |
| WTI | 2024-10-16 | [Oil prices hold at 2-week low on lower oil demand growth forecasts](https://feedsoft.ai/events/28030-oil-prices-hold-at-2-week-low-on-lower-oil-demand-growth-forecasts.md) | +2.2% | -3.8% |
| BRENT | 2022-08-01 | [Oil sinks about 4% after weak factory data sparks demand concerns](https://feedsoft.ai/events/12799-oil-sinks-about-4-after-weak-factory-data-sparks-demand-concerns.md) | -11.9% | -8.8% |
| BRENT | 2025-01-27 | [Oil hits 2-week low as China's DeepSeek AI spurs demand fears \| Reuters](https://feedsoft.ai/events/26682-oil-hits-2-week-low-as-china-s-deepseek-ai-spurs-demand-fears-reuters.md) | -2.1% | -5.0% |
| BRENT | 2024-10-16 | [Oil prices hold at 2-week low on lower oil demand growth forecasts](https://feedsoft.ai/events/28030-oil-prices-hold-at-2-week-low-on-lower-oil-demand-growth-forecasts.md) | +2.5% | -2.4% |

## Sources

- investinglive.com: https://investinglive.com/news/china-s-factory-and-services-pmi-gauges-both-drop-below-50-as-fourth-quarter-starts-on-a-weak-note/

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Data from Feedsoft AI (https://feedsoft.ai/). For information only; not investment advice.