more to come
**
Earlier this week we had the the official PMIs, showing slight improvement for manufacturing:
China officeial PMI data: October Manufacturing 50.1 (expected 50.0)
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 the media company Caixin and research firm Markit / S&P Global.
The official PMI survey covers large and state-owned companies, while the Caixin PMI survey covers small and medium-sized enterprises. As a result, the Caixin PMI is considered to be a more reliable indicator of the performance of China’s private sector.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 on China’s manufacturing sector.
This article was written by Eamonn Sheridan at www.forexlive.com.
