China PMIs from the private survey
These are not good results, but these are old, old news now given all the stimulus announcements from China this past week.
Earlier:
China official PMI data: Manufacturing 49.8 (expected 49.5)
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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 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.
