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These are not good results, but they are old and outdated news now given all the stimulus announcements from China in the past week.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