Rating Dog Manufacturing PMI (Sep) beats easily at 51.2
- expected 50.3, prior 50.5
- 51.2 is the fastest since March this year
Rating Dog Services PMI (Sep) also a beat, but down a tic from August, at 52.9
- expected 52.3, prior 53.0
Composite 52.5
Earlier:
China official manufacturing PMI (September) 49.8 (expected 49.6, prior 49.4)
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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 now Rating Dog China PMI published by Markit / S&P Global.
- The official PMI survey covers large and state-owned companies, while the Caixin PMI survey covers more 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.