more to come
Manufacturing PMI 49.4
expected 49.3, prior 49.5
Services PMI 50.2
expected 50.2, prior 50.5
The Composite comes in at 50.2
prior 51.0
more to come
—
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.The Caixin manufacturing PMI will follow on Thursday, services on Monday
This article was written by Eamonn Sheridan at www.forexlive.com.
