China Caixin September Manufacturing PMI 49.3 (prior 50.4) Services 50.3 (prior 51.6)

China PMIs from own survey

These are not good results, but they are old and outdated news now given all the stimulus announcements from China in the past week.

previously:

  • China official PMI data: manufacturing 49.8 (49.5 expected)

China has two primary Purchasing Managers’ Index (PMI) surveys – the official PMI released by the National Bureau of Statistics (NBS) and the Caixin China PMI published by media company Caixin and research firm Markit/S&P Global.

  • The official Purchasing Managers’ Index (PMI) survey covers large and state-owned enterprises, while the Caixin PMI survey covers small and medium-sized enterprises. As a result, the Caixin PMI is considered a more reliable indicator of China’s private sector performance.
  • Another difference between the two surveys is their methodology. The Caixin PMI survey uses a broader sample of companies than the official survey.
  • Despite these differences, the two surveys often provide similar readings for China’s manufacturing sector.

This article was written by Eamonn Sheridan at www.forexlive.com.

CaixinChinaManufacturingPMIpriorSeptemberservices