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Producer prices in Rwanda increased 6.8% year-on-year in October 2025, slowing from a 13.5% rise in September and marking the eleventh consecutive month of producer inflation. It was also the softest annual increase since May, as manufacturing prices (6.2% vs 14.5% in September) and mining and quarrying (0.8% vs 1.0%) both advanced more slowly. Meanwhile, price growth in the electricity, gas, steam, and air conditioning supply sector remained steady at 34.8%. In contrast, prices in water supply, sewerage, waste management, and remediation activities were unchanged. On a monthly basis, producer prices fell 0.8% in October, reversing a 2.5% rise in September, which had been the fastest increase in four months.

Rwanda Producer Prices Rise the Least in 5 Months

China’s official NBS Non-Manufacturing PMI dropped to 49.5 in November 2025 from 50.1 in the previous month, marking the lowest reading since December 2022 and the first contraction in nearly three years. The latest result was below market estimates of 50.0, underscoring the steady loss of momentum across consumer-facing and service industries amid subdued sentiment, ongoing weakness in the property sector, and persistent external headwinds. Limited fiscal support so far has also offered little relief, contributing to the broader slowdown.

China Services Shrink for First Time in Near 3 Years

China’s official NBS Manufacturing PMI inched up to 49.2 in November 2025 from October's 6-month low of 49.0, in line with market forecasts. However, the latest reading marked the eighth consecutive month of decline in factory activity, weighed down by weak overseas orders, heightened price undercutting among domestic producers, and exporters maintaining a defensive stance amid an uncertain global backdrop.

China Manufacturing Shrinks for 8th Month

China’s NBS Composite PMI Output Index fell to 49.7 in November 2025 from 50.0 in the previous month, marking the lowest level since December 2022 and the first decline in private sector activity in nearly three years. Manufacturing shrank for the eighth straight month, weighed by soft external demand, ongoing supply-chain adjustments, and caution among exporters. The services sector also dipped into contraction for the first time since December 2022, as consumer sentiment cooled, business expansion slowed, and firms reported tighter budgets amid a patchy economic recovery. Policymakers, meanwhile, have yet to roll out any significant new support beyond the consumer loan incentives introduced in mid-August, reinforcing perceptions of a wait-and-see approach.

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