Top
Reference

China PMI

This page is about both the official government PMI and the private (first CLSA and later HSBC) PMI measures.

Summary

30 Sep 2013.

The two PMIs were both right around 50 in Sep, indicating stagnation.

Graph

30 Sep 2013. Data through Sep 2013.

(The data for the private PMI are complete; the government PMI, which started later – April 2005 – is missing the first 5 data points. The dashed lines indicate the average value over the date range covered by both data series. The averages show that the government series tends to be more optimistic.)

Sources

See news clippings below. Also, Trading Economics and HSBC.

See also

Clippings below were used in the construction of this page

Official version methodology

Oct 2005. Li and Fung Reserch Center.

http://www.cflp.org.cn/en/news/pdf/20051181045October_PMI.pdf

“PMI Report on China Manufacturing”

“About the CFLP China Manufacturing PMI:

The CFLP China Manufacturing Purchasing Managers’ Index (PMI) provides an early indication each month of economic activities in the Chinese manufacturing sector. It is compiled by China Federation of Logistics & Purchasing (CFLP) and China Logistics Information Centre (CLIC), based on data collected by the National Bureau of Statistics (NBS). Li & Fung Research Centre is responsible for drafting and disseminating the English PMI report.

Every month questionnaires are sent to over 700 manufacturing enterprises all over China. The data presented herein is compiled from the enterprises’ responses about their purchasing activities and supply situations. CFLP makes no representation regarding the data collection procedures, nor does it disclose any data of individual enterprises. The PMI should be compared to other economic data sources when used in decision-making.

725 manufacturing enterprises in 20 industries from Eastern, Central and Western China are surveyed. The sampling of the enterprises involves the use of Probability Proportional to Size Sampling (PPS), which means the selection of enterprises surveyed is largely based on each industry’s contribution to GDP, and the representation of each geographical region.

Survey responses reflect the change of each indicator, if any, in the current month compared to the previous month. There are 11 indicators in the survey: Output, New Orders, New Export Orders, Backlogs of Orders, Stocks of Finished Goods, Purchases of Inputs, Imports, Input Prices, Stocks of Major Inputs, Employment and Suppliers’ Delivery Times. For each of the indicators, this report shows the percentage of enterprises reporting each response, the difference between the percentage of responses in the positive economic direction and the negative economic direction, and the diffusion index. The diffusion index is the sum of the positive responses plus a half of those responding ‘the same’. Diffusion indices have the properties of leading indicators and are convenient summary measures showing the prevailing direction of change and the scope of change. An index reading above 50% indicates an overall positive change in that variable; below 50%, an overall negative change.

The PMI is a composite index based on the seasonally adjusted diffusion indices for five of the indicators with varying weights: New Orders—30%; Output—25%; Employment—20%; Suppliers’ Delivery Times—15%; and Stocks of Major Inputs—10%. A PMI reading above 50% indicates an overall expansion in the manufacturing sector; below 50, an overall contraction.

Currently there are 22 countries and regions conducting the PMI survey and compilation, based on an internationally standardized methodology.”

Sep, Oct, both

2 Nov 2005. CRI English.

http://english.cri.cn/855/2005/11/02/262@28248.htm

“China Economy 'Growing at 9.5%' ”

“In Beijing, investment bank CLSA said on Tuesday that its Purchasing Managers' Index for China fell to 50.1 in October from 50.9 in September, the lowest reading in the 19-month history of the survey and showing only marginal growth in manufacturing. …

The Chinese government recently began compiling its own PMI. This official index, released earlier on Tuesday, fell to 54.1 in October from 55.1 in September.”

Nov 2005, both

5 Dec 2005. CRI English.

http://english.cri.cn/855/2005/12/05/481@34417.htm

“Excess Capacity in China's Economy”

“An official survey of purchasing managers produced for the National Bureau of Statistics showed that business conditions stabilized in November as a pick-up in export orders and consumer demand offset weaker energy sectors.

The index derived from the survey, conducted by the China Logistics and Purchasing Association, stood at 54.1 last month, unchanged from October. It trended down from March to July but has since recovered. …

By contrast, the purchasing managers' index produced for Hong Kong brokerage CLSA fell below the critical no-change level of 50 for the first time in the 20-month history of the survey.

The index dipped to 49.8 last month from 50.1 in October, pointing to a slight deterioration in China's manufacturing economy.”

Dec 2005, Jan 2006, both

2 Feb 2006. CE.CN

http://www.ce.cn/finance/foreignexchange/shuju/zg/200602/02/t20060202_5982445.shtml

[Article in Chinese, but the dates and index numbers can be read. CLSA 50.1 in Dec to 50.2 in Jan. Logistics 54.3 in Dec to 52.1 in Jan.]

Jan 2006, CLSA

1 Feb 2006. Finfacts.

http://www.finfacts.com/irelandbusinessnews/publish/article_10004720.shtml

“China's Manufacturing business conditions and output remain flat at start of 2006”

“Underlying business conditions at Chinese manufacturers posted a slight improvement at the start of 2006. The CLSA China Purchasing Managers’ Index – a composite indicator designed to provide a single-figure snap-shot of the health of the manufacturing sector – rose for the second month running from November’s series low but, at just 50.2, suggested that the improvement was only negligible.”

all pre-Mar 2006, CLSA=NTC

Mar 2006. NTC Research.

http://www.clsa.com/library/storyimages/imageupload/20060228/economics/chinapmi-mar06.pdf

“CLSA China Purchasing Managers’ Index produced by NTC Research”

Values for index taken from a graph for April 2004 (the start of the survey) to Feb 2006.

Feb, Mar 2006, both

4 Apr 2006. The Standard.

http://www.thestandard.com.hk/news_detail.asp?pp_cat=5&art_id=15750&sid=7349660&con_type=1&d_str=20060404&sear_year=2006

“Factory activity pace rises on exports”

“The CLSA China purchasing managers' index climbed to a seasonally adjusted 51, an eight-month high, from 50.7 in February, the Hong Kong-based brokerage said Monday. …

The results of the other survey, announced by the China Federation of Logistics and Purchasing and the National Bureau of Statistics, stood at 55.3.

The reading compares with 52.1 in February, which was the third lowest since the index started last April. The government index is based on a survey of 730 companies in 20 industries such as oil and gas, oil refining, metallurgy, transport equipment and electronics.”

Apr, May 2006, both

2 Jun 2006. The Standard.

http://www.thestandard.com.hk/news_detail.asp?pp_cat=5&art_id=19932&sid=8230376&con_type=1

“Investors warned as plant input prices leap”

“The government's purchasing managers' index, which measures manufacturing activity, had its biggest drop in more than a year, falling to 54.8 from 58.1 in April, the China Federation of Logistics and Purchasing and the National Bureau of Statistics, which jointly publish the index, said. It was the lowest reading since February. A reading above 50 reflects an expansion.

Separately, CLSA said Thursday its PMI gained to 52.8 from 52.7 in April.”

May, Jun 2006, both

4 Jul 2006. The Standard.

http://www.thestandard.com.hk/news_detail.asp?pp_cat=5&art_id=22093&sid=8689415&con_type=1&d_str=20060704&sear_year=2006

“Output at factories grows as cost pressures bite”

“Brokerage CLSA said Monday its China Purchasing Managers' Index rose in June to its highest level since May 2005, driven by growth in output and new orders. The index, designed to give a timely snapshot of business conditions in the manufacturing sector, edged up to 52.9 from 52.8 in May.

The government's PMI for June, released by the China Logistics and Purchasing Association, fell to 54.1 in June from 54.8 in May but remained well above the threshold of 50 that marks the difference between expansion and contraction.”

Jul, Aug 2006, CLSA

5 Sep 2006. Industry Week.

http://www.industryweek.com/articles/chinas_august_manufacturing_slips_to_five-month_low_12602.aspx

“China's August Manufacturing Slips To Five-Month Low. Agence France-Presse”

“The CLSA China manufacturing purchasing managers' index (PMI) slipped in August to a five-month low of 52.6 points, a figure that still indicates expansion, a statement said Sept. 1. The PMI, an indicator designed to provide a snapshot of the health of the Chinese manufacturing sector, was down from a 14-month high of 53 in July, CLSA said.”

Jul, Aug 2006, Gov

9 Sep 2006. Xinhuanet.

http://en.ce.cn/Business/Macro-economic/200609/09/t20060909_8484986.shtml

“Index shows China's manufacturing industry still buoyant”

“The China Manufacturing Purchasing Managers' Index (PMI), which tracks economic activity in China's manufacturing sector each month, has stayed above 50 percent for 20 consecutive months since it was launched in January 2005.

The continuing high position of the index suggests that in general enterprises are optimistic about the future and the economy, said sources with the China Federation of Logistics & Purchasing (CFLP), the index compiler.

According to the latest statistics from the CFLP, the PMI rose 0.7 percentage points in August to 53.1 percent”

Sep, Gov

3 Oct 2006. The Standard.

http://www.thestandard.com.hk/news_detail.asp?we_cat=10&art_id=28565&sid=10198076&con_type=1&d_str=20061003&fc=2

“Five-month high for China PMI”

“The Purchasing Managers' Index rose to 57, the China Federation of Logistics and Purchasing and the National Bureau of Statistics, which jointly release the index, said in a statement. That compares with 53.1 in August and was the highest reading since April.”

Sep, Oct 2006, CLSA

1 Nov 2006. Finfacts.

http://www.finfacts.ie/irishfinancenews/article_10007879.shtml

“China's Manufacturing PMI at seven-month low as output and new orders rise at slower rates”

“the CLSA China Purchasing Managers Index (PMI ) a composite indicator designed to provide a single-figure snap-shot of the health of the manufacturing sector, produced by NTC Economics, fell for the third month running, from 52.4 in September to 52.1, its lowest level in seven months.”

Oct, Nov 2006, govt

30 Nov 2006. Forbes via Google.

google search (the Forbes link doesn't work)

“China Nov manufacturing PMI 55.3 vs 54.7 in Oct - CFLP -…”

Nov, Dec 2006, CLSA

3 Jan 2007. Prensa.com.

http://mensual.prensa.com/mensual/contenido/2007/01/03/hoy/negocios/847523.html

“Modesta subida en manufactura”

“El índice de gerentes de compras de la firma de corretaje CLSA, un indicador conocido como PMI por sus siglas en inglés, bajó a 52.4 en diciembre desde 53.0 en noviembre”

Dec 2006, Jan 2007, govt

1 Feb 2007. Yahoo Brazil.

http://br.noticias.yahoo.com/s/01022011/22/economia-negocios-indices-acionarios-da-asia.html

“Índices acionários da Ásia recuperam parte das perdas e fecham sessão em alta”

“E o destaque ficou por conta da divulgação do PMI (Purchasing Managers Index), o qual revelou que a indústria em janeiro se desacelerou frente a dezembro, passando de 53,9% para 52,9%, na maior baixa em cinco meses e pior que o estimado por analistas, os quais projetavam 53,5%.”

Feb 2007, CLSA

1 Mar 2007. FN Arena

http://www.fnarena.com/index2.cfm?type=dsp_newsitem&n=0B8D459B-17A4-1130-F52816B9551B638E

“February PMI Shows Robust Growth For Chinese Manufacturers”

“CLSA reports its China Purchasing Managers' Index (PMI) – a composite indicator designed to provide a single-figure snap-shot of manufacturing operating conditions in the country– rose from 52.0 in January to 53.0. This is the index's highest level in three months.”

Feb, Mar 2007, both

2 Apr 2007. Forex Traders

http://www.fxtraders.eu/article.php?id=12476

“DAILY MARKET COMMENTARY”

“Data released in China today saw CFLP March manufacturing PMI survey improve to 56.1 from 53.1 while the CLSA manufacturing PMI survey fell to 52.3 from 53.0.”

Mar, Apr 2007, Logistics

2 May 2007. The Standard.

http://www.thestandard.com.hk/news_print.asp?art_id=43491&sid=13401815

“Fears of more curbs as business activity rapidly expands. Gita Dhungana”

“The official PMI, a gauge of nationwide manufacturing, edged up 58.6 last month from 56.1 in March - the highest since the inception of the index in January 2005, the National Statistics Bureau said Tuesday.”

Apr, May 2007, CLSA

4 Jun 2007. DailyFX

http://www.dailyfx.com/story/dailyfx_reports/top_fx_market_movers/Shanghai_Composite_Index_Falls_By_1180997624081.html

“Shanghai Composite Index Falls By 8.3%. By Antonio Sousa”

“CLSA China Purchasing Managers’ Index peaked at 54.1 in May, its highest level since April 2005 and up from 53.3 in April.”

May, Jun 2007 Logistics

2 Jul 2007. China Economic Net.

http://en.ce.cn/Business/Macro-economic/200707/02/t20070702_12027184.shtml

“Official China June PMI falls to 54.5”

“China's official purchasing managers' index fell to 54.5 in June from 55.7 in May, the China Federation of Logistics and Purchasing said on Monday.”

Jul, Aug 2007, Logistics

2 Sep 2007. AFX via Forbes.

http://www.forbes.com/feeds/afx/2007/09/02/afx4075207.html

“China August manufacturing PMI 54 vs 53.3 in July - CFLP”

“The purchasing manager's index (PMI) for the manufacturing sector rose to 54 points in August from 53.3 in July, the China Federation of Logistics and Purchasing (CFLP) said.”

Jun, Jul, Aug 2007, CLSA

3 Sep 2007. ABCMoney.

http://www.abcmoney.co.uk/news/032007127668.htm

“China Aug PMI at 53.4, up from 53.1 in July - CLSA”

“The CLSA purchasing manager's index (PMI) for China continued its strong run in August, rising to 53.4 from 53.2 in July, but down from June's 27-month high of 55.0, CLSA said.”

Sep, Oct 2007, Logistics

31 Oct 2007. AFX via Forbes.

http://www.forbes.com/feeds/afx/2007/10/31/afx4287129.html

“China Oct manufacturing PMI 53.2 vs 56.1 in Sept - CFLP”

“The purchasing manager's index (PMI) for the manufacturing sector fell to 53.2 points in October from 56.1 in September, the China Federation of Logistics and Purchasing (CFLP) said.”

Sep, Oct 2007, CLSA

31 Oct 2010. AFX via Forbes.

http://www.forbes.com/feeds/afx/2007/10/31/afx4287292.html

“China Oct PMI 55.2, up from 55.0 in Sept - CLSA”

“The CLSA purchasing manager's index (PMI) for China reached a 31-month high in October with a reading of 55.2, showing that the Chinese manufacturing sector remained buoyant at the start of the fourth quarter.

The index was 55.0 in September. October's rate of expansion was the fastest since April 2004, CLSA said in a statement.”

Nov, Dec 2007, Govt.

1 Jan 2008. AFX via Forbes.

http://www.forbes.com/feeds/afx/2008/01/01/afx4484702.html

“China Dec manufacturing PMI 55.3 vs 55.4 in Nov - CFLP”

“The purchasing manager's index (PMI) for the manufacturing sector fell to 55.3 points in December from 55.4 in November, the China Federation of Logistics and Purchasing (CFLP) said.”

Nov, Dec 2007, CLSA

2 Jan 2008. ABCMoney.

http://www.abcmoney.co.uk/news/022008190422.htm

“China Dec PMI recovers to 53.3 from Nov 8-month low of 52.8 - CLSA”

“The December CLSA purchasing manager's index (PMI) for China rose from an eight-month low in November thanks largely to sharp increases in production and new orders, although rapidly rising costs have squeezed profits.

China's PMI was 53.3 in December, up from 52.8 in November.”

Feb 2008 CLSA

3 Mar 2008. Finfacts.

http://www.finfacts.com/irishfinancenews/article_1012779.shtml

“China's industrial output disrupted by snow havoc in February; Further buoyant growth of Indian manufacturing sector; Inflationary pressures intensified in India”

“the headline CLSA China Purchasing Managers’ Index (PMI) – a composite index designed to give a single-figure snapshot of manufacturing operating conditions – dipped to 52.8 in February, down from 53.2 in January and its lowest level in three months.”

Feb 2008 China

2 Mar 2008. AFX via Forbes.

http://www.forbes.com/feeds/afx/2008/03/02/afx4719489.html

“China Feb manufacturing PMI 53.4 vs 53 in Jan - CFLP”

“The purchasing manager's index (PMI) for the manufacturing sector rose to 53.4 points in February from 53 in January, the China Federation of Logistics and Purchasing (CFLP) said.”

Mar 2008 China

31 Mar 2008. Thomson via Forbes.

http://www.forbes.com/feeds/afx/2008/03/31/afx4836664.html

“China March manufacturing PMI 58.4 vs 53.4 in Feb - CFLP”

“The purchasing manager's index (PMI) for the manufacturing sector rose to 58.4 points in March from 53.4 in February, the China Federation of Logistics and Purchasing (CFLP) said.”

CLSA methodology

Apr 2008. CLSA press release.

http://www.chamber.org.hk/info/1016205880_96961712.pdf

“China PMI Report on Manufacturing: PMI at forty-eight month high. Inflationary pressures remain elevated.”

“The CLSA China Report on Manufacturing is based on data compiled from monthly replies to questionnaires sent to purchasing executives in over 400 industrial companies. The panel is stratified geographically and by Standard Industrial Classification (SIC) group, based on the regional and industry contribution to Chinese Industrial production.

Survey responses reflect the change, if any, in the current month compared to the previous month based on data collected mid-month. For each of the indicators the ‘Report’ shows the percentage reporting each response, the net difference between the number of higher/ better responses and lower/worse responses, and the ‘diffusion’ index. This index is the sum of the positive responses plus a half of those responding ‘the same’.

Diffusion indexes have the properties of leading indicators and are convenient summary measures showing the prevailing direction of change. An index reading above 50.0 indicates an overall increase in that variable, below 50.0 an overall decrease. All data are seasonally adjusted.

The Purchasing Managers’ Index (PMI) is a composite index based on five of the individual indexes with the following weights derived by the National Association of Purchasing Management in its survey in the US: New Orders - 0.3, Output - 0.25, Employment- 0.2, Suppliers’ Delivery Times - 0.15, Stock of Items Purchased - 0.1, with the Delivery Times index inverted so that it moves in a comparable direction. The PMI is designed to show a convenient single-figure summary of the health of the manufacturing sector.”

Apr 2008 CLSA

5 May 2008. London South East

http://www.lse.co.uk/FinanceNews.asp?ArticleCode=srwrtmtnk78tlp3&ArticleHeadline=china_april_pmi_at_48-mth_high_price_indexes_elevated_-_clsa

“China April PMI at 48-mth high, price indexes elevated - CLSA”

“CLSA's headline index rose to 55.4 in April, up from the previous month's 54.4.”

May 2008 China

2 Jun 2008. London South East

http://www.lse.co.uk/FinanceNews.asp?ArticleCode=3ukadvuwsfb568t&ArticleHeadline=china_may_manufacturing_pmi_533_vs_592_in_april_-_cflp

“China May manufacturing PMI 53.3 vs 59.2 in April - CFLP”

“The purchasing manager's index (PMI) for the manufacturing sector fell to 53.3 points in May from 59.2 in April, the China Federation of Logistics and Purchasing (CFLP) said.”

Jun 2008 CLSA

11 Jul 2008. Daily Commercial News.

http://dcnonl.com/article/id28871

“Purchasing managers send mixed messages on growth. By John Clinkard”

“the [CLSA] China Manufacturing PMI index fell from 54.7 to 53.3 in June 2008”

Jul 2008

31 Jul 2008. Bloomberg.com.

http://www.bloomberg.com/apps/news?pid=20601087&sid=aoazkwvEhESk&refer=home

“China Manufacturing Contracts for First Time Since Survey Began. By Li Yanping and Nipa Piboontanasawat”

“Manufacturing in China, the world's fourth-biggest economy, contracted for the first time since a survey of purchasing managers began in 2005. The Purchasing Managers' Index fell to a seasonally adjusted 48.4 in July from 52 in June, the China Federation of Logistics and Purchasing said today in an e-mailed statement.”

Aug 2008, CLSA

31 Aug 2008. Thomson via Forbes.com.

http://www.forbes.com/feeds/afx/2008/08/31/afx5375069.html

“China August PMI dragged down to 49.2 by Olympics - CLSA”

“According to CLSA's latest survey, China's purchasing managers' index registered 49.2, down from 53.3 in July, and indicating a contraction in the manufacturing sector for the first time since Nov 2005.”

Sep 2008, China

3 Oct 2008. International Business Times.

http://au.ibtimes.com/articles/20081002/credit-freeze-hits-economy.htm

“Credit freeze hits economy”

“China's PMI index rose to a reading of 51.2 from 48.4 in both August and July. They were lowered by the slowdown engineered to accommodate the two Olympics in Beijing. But it was still sharply lower than the April level of 59.2. ”

Oct 2008, CLSA

3 Nov 2008. Finfacts.

http://www.finfacts.ie/irishfinancenews/article_1015144.shtml

“Chinese manufacturing output fell sharply in October; Japan's PMI fell to 7-year low and India's PMI also declined”

“The headline CLSA PMI recorded 45.2, down from 47.7 in September, to register a new survey record low.”

[Also has a chart for early 2004 to late 2008]

Nov 2008

1 Dec 2008. Bloomberg.com.

http://www.bloomberg.com/apps/news?pid=20601087&sid=abvqNBGbjbYA&refer=home

“China’s November Manufacturing Contracts by Record (Update1). By Nipa Piboontanasawat”

“China’s … Purchasing Managers’ Index fell to a seasonally adjusted 38.8 in November from 44.6 in October, the China Federation of Logistics and Purchasing said today in an e- mailed statement. … China’s export orders declined to 29 in November from 41.4 in October, the survey showed. A reading above 50 reflects an expansion, below 50 a contraction. The output index fell to 35.5 from 44.3, while the index of new orders dropped to 32.3 from 41.7. … The government-backed Purchasing Managers’ Index is based on a survey of more than 700 companies in 20 industries, including energy, metallurgy, textile, automobile and electronics. The survey tracks changes in output, new orders, employment, inventories and prices.”

Dec 2008

5 Jan 2009. ChinaStakes.

http://www.chinastakes.com/2009/1/leading-indicators-show-continuing-economic-slowing.html

“Leading Indicators Show Continuing Economic Slowing”

“On Sunday, the China Federation of Logistics & Purchasing released December’s Purchasing Manager Index (PMI) of 41.2, still in a recessionary area (below 50) but 2.4 percentage points over November’s, showing the effect of the government’s stimulus. But the markets expect more substantial policies to consolidate the current achievement. ”

Feb 2009, China

4 Mar 2009. Bloomberg.

http://www.bloomberg.com/apps/news?pid=newsarchive&sid=amJwKqwXymH4&refer=home

“China’s Stocks Rally Most in 4 Months; Aluminum Corp. Gains. By Chua Kong Ho”

“The Purchasing Manager’s Index rose to a seasonally adjusted 49 in February from 45.3 in January, the China Federation of Logistics and Purchasing said today in an e-mailed statement.”

Feb 2009, CLSA

4 Mar 2009. China Knowledge.

http://www.chinaknowledge.com/Newswires/News_Detail.aspx?type=1&NewsID=21551

“China's PMI increases to 45.1 in February”

“China Purchasing Manager's Index (PMI), a major indicator of economic health, climbed to 45.1 in February from 42.2 in January, according to CLSA's report on Monday. …

CLSA's PMI edged up to 41.2 in December from November's record low of 40.9 since 2004.”

Apr 2009 China

4 May 2009. Economic Times.

http://economictimes.indiatimes.com/markets/global-markets/China-shares-up-on-higher-purchasing-manager-index/articleshow/4482115.cms

“China shares up on higher purchasing manager index”

“China's monthly survey of purchasing managers for more than 700 manufacturers _ a key indicator _ rose to 53.5 in April from March's 52.4, the government-sanctioned China Federation of Logistics and Purchasing reported over the weekend. ”

Apr 2009 CLSA

4 May 2009. Bloomberg.

http://www.bloomberg.com/apps/news?pid=newsarchive&sid=abpJjddUDCMg&refer=latin_america

“Brazil’s Trade Surplus Widens on Exports to China (Update3). By Andre Soliani”

“China’s manufacturing expanded in April for the first time in nine months, adding to signs economic recovery is gaining pace, CLSA Asia Pacific Markets said today. The CLSA China Purchasing Manager’s index rose to a seasonally adjusted 50.1 percent in April from 44.8 percent in March. A reading above 50 indicates an expansion.”

Jun 2009

1 Jul 2009. Alibaba.

http://news.alibaba.com/article/detail/business-in-china/100127992-1-china%2527s-official-pmi-stood-53.2%2525.html

“China's official PMI stood at 53.2% at end-Jun”

“China's Purchasing Manager's Index (PMI) rose 0.1 percentage points to 53.2% in June, according to statistics released by the China Federation of Logistics & Purchasing (CFLP). …

CLSA Asia-Pacific Markets today also published its measurement of China's PMI. According to their figures, China's PMI rose to 51.8% in June from 51.2% in May. ”

Aug 2009

1 Sep 2009. Reuters

http://in.reuters.com/article/idINSP13477920090901

“COMMODITIES-Steadier after sell-off; LME copper catches up. By Nick Trevethan”

“China's official purchasing managers' index (PMI) for August rose to 54.0 from 53.3 in July, the China Federation of Logistics and Purchasing (CFLP) said. It was the sixth straight month that the official PMI has stood above the boom-bust line of 50. [ID:nBJC000453]

But HSBC's China Purchasing Managers' Index (PMI) showed a bigger rise in August, to a 16-month high of 55.1, from 52.8 in July, as a jump in both output and new orders underscored signs of a recovery. [ID:nBJB000652]”

Oct 2009, China

2 Nov 2009. Bloomberg.

http://www.bloomberg.com/apps/news?pid=newsarchive&sid=aVx_ibCANXnk

“Euro Advances Against Yen, Dollar on Signs of Economic Recovery. By Yasuhiko Seki and Ron Harui”

“China’s Purchasing Managers’ Index rose to a seasonally adjusted 55.2 in October from 54.3 in September the Federation of Logistics and Purchasing said yesterday in Beijing.”

Oct 2009, HSBC

2 Nov 2009. Reuters.

http://in.reuters.com/article/idINIndia-43617520091102?pageNumber=2

“Global factory output expands, points to recovery. Chris Reese and Jonathan Cable”

“HSBC said its China Purchasing Managers' Index rose to an 18-month high in October of 55.4 from 55.0 in September.”

Dec 2009

4 Jan 2010. The Journal of Commerce.

http://www.joc.com/logistics-economy/chinese-manufacturing-surges

“Chinese Manufacturing Surged in December. Thomas L. Gallagher”

“The purchasing manager’s index (PMI) from the China Federation of Logistics and Purchasing jumped to 56.6 from 55.2 the previous month in the biggest increase since March. The PMI has been above 50 for 10 consecutive months.

London-based HSBC bank published its own PMI for China which rose from 55.7 in the previous month to 56.1 in December”

Feb 2010

1 Mar 2010. Marketwatch.

http://www.marketwatch.com/story/asia-lifted-china-policy-hopes-copper-stocks-2010-03-01

“China policy hopes, copper stocks boost Asia markets. By V. Phani Kumar, Shri Navaratnam and Philip Vahn ”

“China Federation of Logistics and Personnel's purchasing manager's index for the month fell to 52, well below January's 55.8. Separately, the HSBC China manufacturing purchasing managers index, a gauge of nationwide manufacturing activity, also fell to 55.8 in February from 57.4 in January, snapping four straight months of gains.”

Apr 2010

4 May 2010. MarketWatch

http://www.marketwatch.com/story/chinas-rebound-may-be-cooling-data-show-2010-05-04

“China's rebound may be cooling, data show. By Chris Oliver and Andria Cheng”

“HSBC's survey, conducted in association with market research firm Markit, reported a Purchasing Manufacturing Index (PMI) reading of 55.4 in April, compared to 57.0 in March. The result, released Tuesday morning, ranked as the weakest reading in six months.

The release came just days after the government-backed China Federation of Logistics and Purchasing said its own PMI rose to 55.7 in April, up from 55.1 in March”

Jun 2010

1 Jul 2010. International Business Times.

http://www.ibtimes.com/articles/31998/20100701/global-manufacturing-indexes-slow.htm

“Global Manufacturing Indexes Slow. By Trader Mark”

“The government’s Purchasing Managers’ Index declined to 52.1 from 53.9 in May. HSBC's China Purchasing Managers' Index fell to a 14-month low of 50.4 – just above the 50 mark that divides expansion from contraction – from 52.7 in May”

Aug 2010

1 Sep 2010. BBC News

http://www.bbc.co.uk/news/business-11150317

“US and China manufacturing growth eases concerns”

“Meanwhile, China's PMI, which measures manufacturing growth, rose to 51.7 in August from 51.2 in July.

A separate HSBC survey also showed a rise, reaching a three-month high of 51.9 in August from 49.4 in July. Anything above 50 shows an expansion.”

Oct 2010

1 Nov 2010. FT.com

http://www.ft.com/cms/s/0/f00fbaac-e563-11df-8e0d-00144feabdc0.html

“Strong Chinese and US data boost stocks. By Jennifer Hughes”

“China’s official purchasing managers’ index rose to 54.7 from 53.8 in September, beating expectations. The increase was backed up by HSBC’s version of the index, which moved up to 54.8 from 52.9 – one of the biggest monthly rises since the series began.”

Nov 2010

1 Dec 2010. FT.

http://www.ft.com/cms/s/0/cc28da9a-fd7a-11df-a049-00144feab49a.html

“Global manufacturing powers ahead. By Daniel Pimlott in London and Kevin Brown”

“The detailed figures showed that China’s official PMI rose to a seven-month high of 55.2 in November. The unofficial HSBC China PMI rose to 55.3 from 54.8 a month earlier.”

Dec 2010 - HSBC

30 Dec 2010. Business Insider.

http://www.businessinsider.com/china-pmi-expands-in-december-but-momentum-slows-2010-12

“CHINA PMI EXPANDS IN DECEMBER, BUT MOMENTUM SLOWS”

“China’s PMI continued to expand in December, but showed some signs of slowing momentum. Total output and new orders slowed to their lowest levels in three months while the headline figure showed continuing expansion at 54.4 – down from 55.3 in November”

Dec 2010 - Govt.

30 Dec 2010. The Economic Times.

http://economictimes.indiatimes.com/news/international-business/chinas-manufacturing-sector-pmi-drops-to-539-pc-in-dec/articleshow/7200471.cms

“China's manufacturing sector PMI drops to 53.9 pc in Dec”

“The Purchasing Managers Index (PMI) of China's manufacturing sector dropped to 53.9 per cent in December, down 1.3 percentage points from November.”

Jan 2011

31 Jan 2011. Bloomberg.

http://www.bloomberg.com/news/2011-02-01/china-s-manufacturing-growth-maintains-pressure-for-interest-rate-increase.html

“China's Manufacturing Growth Maintains Pressure for Rate Rise”

“A reading of 52.9 for a purchasing managers’ index released by China’s logistics federation on its website exceeded the 50 level dividing expansion and contraction. A PMI from HSBC Holdings Plc and Markit Economics rose to 54.5 from 54.4.”

Feb 2011 HSBC

1 Mar 2011. Dow Jones via WSJ.com.

http://online.wsj.com/article/BT-CO-20110228-719196.html

“HSBC China February PMI 51.7 Vs January 54.5”

“The HSBC China Manufacturing Purchasing Managers Index, a gauge of nationwide manufacturing activity, fell to 51.7 in February from 54.5 in January, HSBC Holdings PLC said Tuesday. ”

Feb 2011 govt.

1 Mar 2011. AP.

http://www.google.com/hostednews/ap/article/ALeqM5hJJfMRaKE9XrupUBQnDu_m_-TOsw?docId=26f88602ac5348c8ae71b7dcea13b3e4

“China's Feb manufacturing eases on tighter credit”

“The state-affiliated China Federation of Logistics and Purchasing said Tuesday that its purchasing managers index, or PMI, dipped to 52.2 last month, from 52.9 in January and 53.9 in December.”

Mar 2011 HSBC

1 Apr 2011. Reuters.

http://www.reuters.com/article/2011/04/01/china-economy-hsbc-pmi-idUSB9E7F100220110401

“China HSBC PMI hugs 7-mth low, factory inflation slows”

HSBC China PMI (seasonally adjusted): 	

Mar   Feb   Jan   Dec   Nov   Oct   Sep   Aug   Jul   Jun   	

51.8  51.7  54.5  54.4  55.3  54.8  52.9  51.9  49.4  50.4  	

Mar 2011 govt.

1 Apr 2011. BBC.

http://www.bbc.co.uk/news/12930378

“China PMI shows manufacturing is upbeat as costs fall”

“The PMI reading rose to 53.8 according to the China Federation of Logistics and Purchasing.”

Apr 2011 both

1 May 2011. WSJ.com.

http://online.wsj.com/article/SB10001424052748704569404576296803112496180.html?mod=googlenews_wsj

“China Production Data Show Slower Growth. Aaron Back”

“China's official Purchasing Managers Index fell to 52.9 in April from 53.4 in March …

On Friday, another China PMI released by HSBC Holdings PLC was unchanged at 51.8 in April from March”

May 2011, both

3 Jun 2011. Forexyard.com

http://www.forexyard.com/en/news/Chinas-HSBC-PMI-falls-to-10-mth-low-inflation-eases-2011-06-01T022959Z

“China's HSBC PMI falls to 10-mth low; inflation eases”

“HSBC's China Purchasing Managers' Index … dipped to 51.6 in May, from April's 51.8. …

Earlier on Wednesday, China said the official purchasing managers' index for May was 52.0, down from 52.9 in April.”

Jun 2011, both

1 Jul 2011. Business Insider.

http://www.businessinsider.com/china-june-pmi-shows-the-slowdown-continues-2011-7

“China: June PMI Shows The Slowdown Continues”

“The headline PMI fell from 52 in May to 50.9 …

Separately, the HSBC China PMI also fell, with the headline PMI dropped from 51.6 to 50.1”

Jul 2011, gov

1 Aug 2011. FT.com.

http://www.ft.com/intl/cms/s/0/f218f00c-bbe1-11e0-a7c8-00144feabdc0.html?ftcamp=rss

“China PMI shows signs of stabilising. Simon Rabinovitch”

“The purchasing managers’ index (PMI), designed to provide a snapshot of industrial conditions, fell to 50.7 from 50.9 in June. Although that was the fourth straight monthly decline, the reading was higher than most economists expected.”

Jul 2011, HSBC

31 Jul 2011. WSJ.com

http://online.wsj.com/article/BT-CO-20110731-706003.html

“HSBC China July PMI 49.3 Vs June 50.1”

Aug 2011, Gov

1 Sep 2011. Xinhua.

http://news.xinhuanet.com/english2010/china/2011-09/01/c_131088355.htm

“China PMI rebounds to 50.9 pct in August”

“China's Purchasing Managers' Index (PMI) rebounded to 50.9 percent in August from a 29-month low of 50.7 percent for July, the China Federation of Logistics and Purchasing (CFLP) said Thursday.”

Aug 2011, HSBC

1 Sep 2011. Sydney Morning Herald.

http://www.smh.com.au/business/world-business/china-manufacturing-points-to-slowdown-as-exports-sag-20110901-1jn77.html

“China manufacturing points to slowdown as exports sag”

“The HSBC purchasing managers' index (PMI), which previews business conditions in a range of industries before official monthly output data releases, rose to 49.9 in August from 49.3 in July.”

Sep 2011, gov

1 Oct 2011. Xinhua.

http://news.xinhuanet.com/english2010/business/2011-10/01/c_131170770.htm

“China's PMI rises to 51.2 percent in September”

“China's Purchasing Managers' Index (PMI) continued its rise in September, hitting 51.2 percent in September from 50.9 percent in August, the China Federation of Logistics and Purchasing (CFLP) said Saturday.”

Sep 2011, HSBC

1 Oct 2011. Reuters.

http://www.reuters.com/article/2011/09/30/china-economy-hsbc-pmi-idUSB9E7KE00W20110930

“HSBC China PMI steady in Sept, inflation quickens”

“The HSBC purchasing managers' index (PMI), which previews business conditions in a range of industries before official monthly output data, was at 49.9 in September, unchanged from August. …

HSBC believes a PMI reading of as low as 48 in China still points to annual growth of 12-13 percent in industrial output and a 9 percent expansion in gross domestic product.”

Oct 2011, both

1 Nov 2011. Reuters.

http://www.reuters.com/article/2011/11/01/us-china-economy-idUSTRE7A013F20111101

“China PMI in surprise fall, lowest since 2009. Zhou Xin and Nick Edwards”

“China's official purchasing managers' index (PMI) fell to 50.4 in October from 51.2 in September, countering expectations for a rise. The National Bureau of Statistics blamed the drop on weak European and U.S. economies.

A private-sector PMI though set a different direction, rising in October to 51.0 from 49.9 in September, the index's first rise above 50 that demarcates contraction from expansion since June.”

Nov 2011, gov

1 Dec 2011. Bloomberg.

http://www.bloomberg.com/news/2011-12-01/china-s-manufacturing-shrinks-for-first-time-since-2009-on-europe-impact.html

“China PMI Falls for First Time Since 2009”

“The Purchasing Managers’ Index fell to 49.0 in November from 50.4 in October, the China Federation of Logistics and Purchasing said in a statement today.”

Nov 2011, HSBC

1 Dec 2011. WSJ.

http://online.wsj.com/article/BT-CO-20111130-719624.html

“HSBC China November PMI 47.7 Vs Preliminary 48.0, October's 51.0”

“The final HSBC China Manufacturing Purchasing Managers Index, a gauge of nationwide manufacturing activity, fell to 47.7 in November compared with 51.0 in October, HSBC Holdings PLC said Thursday.”

Dec 2011, HSBC

29 Dec 2011. Bloomberg.

http://www.bloomberg.com/news/2011-12-30/china-manufacturing-contracts-for-2nd-month.html

“China Contraction in Manufacturing Boosts Case for Easing Policy: Economy”

“A purchasing managers’ index was at 48.7 in December from 47.7 in November, HSBC Holdings Plc and Markit Economics said today.”

Dec 2011, Gov

1 Jan 2011. Xinhua via CRIEnglish.

http://english.cri.cn/6826/2012/01/01/189s674151.htm

“China's PMI Rebounds to 50.3% in December ”

“The Purchasing Managers' Index (PMI), a preliminary readout of the country's manufacturing activity, rebounded to 50.3 percent in December, indicating a stabler slowing trend for the country's economic growth.

The December Purchasing Managers' Index was up 1.3 percentage points from 49 percent in November, the China Federation of Logistics and Purchasing (CFLP) said Sunday.”

Feb 2012, Gov

29 Feb 2012. Reuters.

http://www.reuters.com/article/2012/03/01/china-economy-pmi-idUSL4E8DT43320120301

“UPDATE 1-China PMI up as new export orders expand”

“Feb official PMI at 51.0 vs 50.5 in Jan”

Feb 2012, HSBC

29 Feb 2012. WSJ.

http://online.wsj.com/article/BT-CO-20120229-722122.html

“HSBC China February Final PMI 49.6 Vs 48.8 In January ”

Mar 2012, Both

31 Mar 2012. WSJ.

http://online.wsj.com/article/BT-CO-20120331-701622.html

“2nd UPDATE: China Official PMI Rises In March, Eases Slowdown Concerns”

“China's official PMI improved to 53.1 in March, highest in a year and up from 51.0 in February …

–But a competing PMI published by HSBC fell to 48.3 in March, from 49.6 in February ”

Apr 2012, both

2 May 2012. Reuters.

http://www.reuters.com/article/2012/05/02/idUSWLA740220120502

“TEXT-Fitch: China PMI Data - state influence vs. private sector”

“According to the official government index of China's Manufacturing PMI, manufacturing activity continued to expand in April with the index reaching a 13-month high of 53.3 from 53.1 in March. However, the HSBC index remained below 50, which signals a contraction, at 49.3 in April, although this was an improvement from 48.3 in March.”

May 2012, both

31 May 2012. Reuters via CNBC.

http://www.cnbc.com/id/47638792

“China Factory Surveys Signal Wider Economic Weakness”

“The official purchasing managers' index - covering China's biggest, mainly state-backed firms - fell more than expected to 50.4 in May …

The HSBC China manufacturing PMI, tracking smaller private sector firms, retreated to 48.4 from 49.3 in April - its seventh straight month below the 50-mark that demarcates expansion from contraction”

June 2012, both

3 Jul 2012. Taipei Times.

http://www.taipeitimes.com/News/biz/archives/2012/07/03/2003536823

“China’s PMI contracts, while India’s edges up: HSBC”

“HSBC … purchasing managers’ index (PMI) for China fell to 48.2 from 48.4 in May …

China’s official PMI has painted a slightly better picture of the economy.

PMI fell to a seven-month low of 50.2 last month, industry group the China Federation of Logistics and Purchasing said on Sunday.”

Jul 2012, both

31 Jul 2012. Reuters via Business Standard.

http://business-standard.com/india/news/china-pmi-data-shows-factory-sector-barely-growing/180983/on

“China PMI data shows factory sector barely growing”

“China's official factory purchasing managers' index fell to an eight-month low of 50.1 in July, suggesting the sector is barely growing, while a rival HSBC survey indicated the more market-sensitive private sector is starting to recover.

The HSBC PMI rose to a seasonally adjusted 49.3”

Aug 2012, Both

3 Sep 2012. Reuters via Yahoo.

http://finance.yahoo.com/news/china-hsbc-pmi-drops-47-023234728.html

“China HSBC PMI drops to 47.6, worst since March 2009”

“The HSBC Purchasing Managers' Index fell to a seasonally adjusted 47.6, its lowest level since March 2009. …

The HSBC finding echoed the results of China's official PMI, released on Saturday, which hit a nine-month low in August, falling to a lower-than-expected 49.2 from 50.1 in July.”

Markit/HSBC methodology (no bias towards small or non-state)

undated; reported by Business Insider 30 Sep 2012.

http://www.businessinsider.com/chinas-official-hsbc-pmi-reports-2012-9#-1

“China's manufacturing PMI surveys compared”

“The China Manufacturing PMI panel compiled by Markit/HSBC is carefully selected according to the industry sector and company size using the latest available manufacturing value added statistics from the NBS. A weighting system is also used which further ensures that survey responses have an appropriate impact on the results according to the relative importance of the sector they operate in and the size of the company. …

The Markit/HSBC survey panel is also carefully selected to ensure representativeness across regions and state-owned and private companies.

We do not know how the CFLP survey panel is structured. [and if they don't, probably no one outside the government does]”

Sep 2012, both

30 Sep 2012. Business Insider.

http://www.businessinsider.com/chinas-official-hsbc-pmi-reports-2012-9

“Here's The Difference Between China's Official And Unofficial HSBC PMI Reports”

“YouTube Moments ago, we learned that China's official manufacturing PMI missed expectations, coming in at just 49.8 for September.

On Friday, the HSBC manufacturing PMI was reported at 47.9.”

Oct 2012, both

1 Nov 2012. FT.

http://www.ft.com/intl/cms/s/0/466c3d10-23cb-11e2-a46b-00144feabdc0.html

“China’s manufacturers return to growth. Simon Rabinovitch”

“The official purchasing managers’ index, a gauge of industrial activity, rose to a four-month high of 50.2 in October from 49.8 in September. …

Separately, an HSBC-sponsored PMI for China rose to 49.5 in October, an eight-month high, from 47.9 in September.”

Nov 2012, both

2 Dec 2012. FxStreet.

http://www.fxstreet.com/news/forex-news/article.aspx?storyid=594b4a4d-7e96-496e-b122-16cacf3b6073

“China HSBC PMI stands at a 13-month high”

“the official manufacturing PMI at 50.6, which represents a 7 month high, the China HSBC PMI printed a promising 50.5 number”

Dec 2012, both

31 Dec 2012. Baltimore Sun

http://www.baltimoresun.com/business/sns-rt-us-china-pmi-officialbre900011-20121231,0,5537083.story

“China December official factory PMI flat at 50.6: NBS”

“China's official manufacturing purchasing managers' index held steady at 50.6 in December …

On Monday, the HSBC China PMI … a December reading of 51.5.”

Jan 2013, both

1 Feb 2013. FT.

http://www.ft.com/intl/cms/s/0/9dc7589e-6c12-11e2-a17d-00144feab49a.html

“China’s factories report slower growth. Simon Rabinovitch”

“The official purchasing managers’ index … edged down to 50.4 in January from 50.6 in December …

A separate PMI for China published by HSBC reinforced that view, rising to a two-year high of 52.3 in January from 51.5 in December.”

Feb 2013, both

1 Mar 2013. International Business Times

http://www.ibtimes.com/china-manufacturing-pmi-drops-february-hinting-economic-rebound-losing-momentum-1108416

“China Manufacturing PMI Drops In February Hinting At Economic Rebound Losing Momentum. Sreeja VN”

“The official data on the Purchasing Managers' Index (PMI) in the manufacturing sector showed that the index fell to 50.10 in February, from 50.40 in the previous month. …

According to the HSBC Purchasing Managers’ Index released Friday, China's manufacturing activity fell sharply to 50.4 in January [actually, February], from the previous month’s 52.3.”

Mar 2013, both

1 Apr 2013. FT.

http://www.ft.com/intl/cms/s/0/2bec5a3c-9a7d-11e2-83ca-00144feabdc0.html

“China’s manufacturing picks up speed. Jamil Anderlini”

“China’s official Purchasing Managers’ Index, released on Monday, rose to 50.9 in March from 50.1 in February, the biggest expansion since April last year. A competing index published by HSBC rose to 51.6 from 50.4 in February.”

Apr 2013, both

1 May 2013. Reuters, via Fox.

http://www.foxbusiness.com/news/2013/05/01/china-april-hsbc-pmi-eases-to-504-on-weak-external-demand/

“China April HSBC PMI eases to 50.4 on weak external demand”

“The final HSBC Purchasing Managers' Index (PMI) dropped to 50.4 in April from March's 51.6 …

China's official PMI on Wednesday painted a similar picture, falling to 50.6 in April from an 11-month high of 50.9 in March”

May 2013, both

3 Jun 2013. Business Insider.

http://www.businessinsider.com/china-may-hsbc-manufacturing-pmi-2013-6

“CHINA'S MANUFACTURING SECTOR IS CONTRACTING”

“China's unofficial HSBC manufacturing PMI report is out and its disappointing.

The headline number fell to 49.2 from 50.4 a month ago. …

On Friday, we learned that China's official PMI report unexpectedly climbed to 50.8 from 50.6 in April.”

Jun 2013, both

30 Jun 2013. WSJ.

http://online.wsj.com/article/SB10001424127887324436104578578543068227354.html

“China PMI Data Hint at Slowing Economic Growth”

“The official purchasing managers' index fell to 50.1 in June from 50.8 a month earlier, in line with economists' expectations. The HSBC HSBA.LN -0.10% manufacturing PMI, a competing gauge that gives more weight to smaller firms and exporters, fell to 48.2 in June from 49.2 in May.”

Jul & Aug 2013, gov

1 Sep 2013. FT.

http://www.ft.com/intl/cms/s/0/cfae4b4e-12b9-11e3-8336-00144feabdc0.html

“China manufacturing hits 16-month high. Simon Rabinovitch”

“The official Chinese purchasing managers’ index climbed from 50.3 in July to 51 in August”

Jul, HSBC

1 Aug 2013. FT.

http://www.ft.com/intl/cms/s/0/c96b2c3c-fa42-11e2-98e0-00144feabdc0.html

“China manufacturing data mixed in July. Jamil Anderlini”

“the HSBC PMI fell to its lowest level in 11 months, dropping to 47.7 in July from 48.2 in June.”

Aug & Sep, HSBC

30 Sep 2013. FT.

http://www.ft.com/intl/cms/s/0/2589b8da-297d-11e3-8d19-00144feab7de.html

“Faltering Chinese factory growth adds to rebound fears. Simon Rabinovitch”

“The purchasing managers’ index published by HSBC edged up to 50.2 in September from 50.1 in August”

Sep, Gov

30 Sep 2013. Reuters via Yahoo.

http://news.yahoo.com/china-september-official-pmi-edges-small-firms-struggle-011521022--business.html

“China manufacturing tepid in September, small firms struggle”

“The official Purchasing Managers' Index (PMI) stood at 51.1 last month from August's 51.0”