Economic calendar in Asia Friday, 1 September 2023 – another Manufacturing PMI from China

<p>The official PMIs from China on Thursday were a mixed bag with an improvement but still contraction for manufacturing and a slip lower but still expansion for services:</p><ul><li><a href="https://www.forexlive.com/news/china-august-manufacturing-pmi-497-vs-expected-492-20230831/" target="_blank" rel="follow" data-article-link="true">China August Manufacturing PMI 49.7 (vs. expected 49.2)</a></li></ul><p>Today it's the privately surveyed PMI from Caixin/S&amp;P Global. This is expected to be still in contraction. </p><p>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&amp;P Global.</p><ul><li>While the NBS' PMIs cover large and state-owned companies, 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.</li><li>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.</li></ul>

This article was written by Eamonn Sheridan at www.forexlive.com.