China Aluminum Formwork Industry Index in september
Based on the "September 2025 China Aluminum Formwork Industry Purchasing Managers' Index (PMI)" questionnaire, issued by the China Infrastructure Materials Leasing and Contracting Association to key enterprises nationwide, data was collected to form the industry's operating and development index. The September 2025 China Aluminum Formwork Industry Operating and Development Index was 45.5%, up 3.4 percentage points from the previous month.
The September Aluminum Formwork Operating and Development Index remained in the contraction range, up 3.4 percentage points from the previous month. Looking at the sub-indices, only the Supplier Delivery Time Index remained above the growth-decline line, while the Production Index, New Orders Index, Raw Materials Inventory Index, and Employee Index remained below the growth-decline line. The Production Index and New Orders Index remained in the contraction range, showing a slight recovery, while the Employee Index showed a significant rebound.
Currently, concerns are: first, the continued difficulty and slowness of payment collection; second, the lack of valid orders.
The following two points warrant attention. First, the Ninth Plenary Session of the State Council emphasized the need to "take effective measures to consolidate the real estate market's recovery from decline, promote the renovation of urban villages and dilapidated housing in conjunction with urban renewal, and unleash demand for improved living through a multi-pronged approach." Many newly first-tier cities are currently studying new policy measures for the real estate market to further stimulate demand for improved housing.
Second, the construction industry's growth rate continues to slow, and demand sustainability needs to be strengthened. Although the construction industry's business activity index rose 0.2 percentage points from the previous month to 49.3% in September, it remained below 50% for two consecutive months. By industry, the business activity index for both the housing construction and civil engineering sectors remained below 50%, indicating that short-term growth in investment-related construction activity remains sluggish. The construction industry's new order index has remained below 50% since the beginning of this year, indicating a need to strengthen the sustainability of construction demand. It is expected that the construction industry's business sentiment will rebound in the fourth quarter with the accelerated implementation of key construction projects and special bond funds. In September, the construction industry's business activity expectation index rose by 0.7 percentage points from the previous month to 52.4%, rising month-on-month for two consecutive months, with the rate of increase expanding from the previous month, indicating that construction companies are optimistic about the industry's economic conditions in the fourth quarter.