Well-known Chinese financial site Caixin recently released its official Chinese Manufacturing PMI index number for October, which was 48.3. Caixin PMI was formerly known as HSBC PMI, which was a well-respected economic indicator monitored globally by financial institutions. The Caixin PMI has been below 50 for eight consecutive months. The sub-indexes under the Caixin Manufacturing PMI show that the overall Chinese manufacturing industry remains weak. However, the number of new export orders saw a rebound in October. Even so, the total number of orders for Chinese exports for October is still expected to suffer a decline of -3.7 percent, year-over-year. The employment level in manufacturing continued to shrink despite the increase in the services industry. PMI (Purchasing Managers Index) is an indicator of financial activity reflecting purchasing managers’ acquisition of goods and services. A PMI number below 50 typically reflects a decline.
Source: Caixin, November 4, 2015