China’s non-manufacturing PMI firms

Thursday 3 October 2013

It’s a decent result this morning for the Chinese non-manufacturing PMI, from Bloomie here are the July-Sep numbers:

——————— Index ———————
Non-manufacturing PMI 55.4 53.9 54.1
New Orders 53.4 50.9 50.3

This series should not be confused with the services PMI. The non-manufacturing PMI is sectors like infrastructure and construction. In terms of rebalancing it is therefore a double-edged sword to see this rise while manufacturing and services remain sluggish.

About the author

David Llewellyn-Smith is Chief Strategist at the MB Fund and MB Super. David is the founding publisher and editor of MacroBusiness and was the founding publisher and global economy editor of The Diplomat, the Asia Pacific's leading geo-politics and economics portal. He is also a former gold trader and economic commentator at The Sydney Morning Herald, The Age, the ABC and Business Spectator. He is the co-author of The Great Crash of 2008 with Ross Garnaut and was the editor of the second Garnaut Climate Change Review.