China Caixin/S&P Global Services PMI for March 2024 comes in at 52.7

  • expected 52.7, prior 52.5

Composite 52.7

  • prior 52.5

Earlier re Chinese PMIs for March. Over the weekend we had the first lot of PMIs from China, with some better news:

And then on Monday the Caixin manufacturing PMI:

china services 03 August 2023


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.