Tag Archives: Chinese PMI

Solid PMI figures indicate stable growth for the Chinese economy in Q1 2017, but we maintain our below-consensus forecast for GDP growth this year.China’s official manufacturing purchasing managers’ index (PMI) in February came in at 51.6, compared with 51.3 in January, while the Caixin (Markit) manufacturing PMI rose by 0.7 from the previous month to 51.7. The official non-manufacturing PMI in February remained an elevated 54.2, only slightly below the reading of 54.6 in January.In summary,...

The slight decline in the official manufacturing PMI does not tally with the Caixan equivalent. We believe the official PMI better reflects a Chinese economy heading towards growth of around 6.5% this year. China’s official manufacturing PMI declined slightly to 49.9 in July, while the Caixin (Markit) PMI rose significantly, to 50.6 from 48.6 in June. The official non-manufacturing PMI extended its rise from last month and increased by 0.2 to 53.9, well above the 50 mark that separates...

Macroview Nonmanufacturing helped by construction, but growth may slow given stimulus pull-back China’s official and Caixan purchasing manufacturing indices (PMI) declined in June. The official figure stood at 50 (down from 50.1 in May), right at the mid-point between expansion and contraction, while the Caixin PMI fell to 48.6. At the same time, the official PMI figures show that activity at large companies, many of them state owned, was much stronger than at small and medium-sized...