China Caixin Services PMI for March Matches Expectations at 52.7
China Caixin/S&P Global Services PMI for March 2024
The latest China Caixin Services PMI for March 2024 registered at 52.7, in line with expectations and on par with the prior figure of 52.5. This indicator, which focuses on small and medium-sized enterprises, offers valuable insights into the private sector's performance.
Different PMI Surveys
China has two primary Purchasing Managers' Index (PMI) surveys: the official PMI by the National Bureau of Statistics and the Caixin China PMI. The Caixin version, with its broader sample size, is considered a more accurate representation of China's private sector health.
- Official PMI: Covers large and state-owned companies
- Caixin PMI: Focuses on small and medium-sized enterprises
Despite minor differences, both surveys consistently show similar results, offering a reliable picture of China's manufacturing sector.
This article was prepared using information from open sources in accordance with the principles of Ethical Policy. The editorial team is not responsible for absolute accuracy, as it relies on data from the sources referenced.