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
- better underlying demand conditions, business promotional efforts and new product launches supported
- upturn in overall new business, with the rate of expansion the fastest since February
- new export orders increased for the first time since March
- quickest gain in production in three months
- inventories of finished goods rose due to increased production and manufacturers' efforts to rebuild stock levels
- The government's pledge to put an end to aggressive price cuts by some Chinese companies pushed up input prices to the highest since November 2024
- average selling prices declined slightly after stabilising in August
- job shedding continued in the manufacturing sector in September, though the rate of reduction eased to the slowest in six months.
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
- prior 51.9
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.
