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

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)

—

—

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.