Rating Dog Manufacturing PMI (Sep) beats easily at 51.2

expected 50.3, prior 50.5
51.2 is the fastest since March this year
better underlying demand conditions, business promotional efforts and new product launches supported
upturn in overall new business, with the rate of expansion the fastest since February
new export orders increased for the first time since March
quickest gain in production in three months
inventories of finished goods rose due to increased production and manufacturers’ efforts to rebuild stock levels
The government’s pledge to put an end to aggressive price cuts by some Chinese companies pushed up input prices to the highest since November 2024
average selling prices declined slightly after stabilising in August
job shedding continued in the manufacturing sector in September, though the rate of reduction eased to the slowest in six months.

Rating Dog Services PMI (Sep) also a beat, but down a tic from August, at 52.9

expected 52.3, prior 53.0

Composite 52.5

Earlier:

China official manufacturing PMI (September) 49.8 (expected 49.6, prior 49.4)

—

China has two primary Purchasing Managers’ Index (PMI) surveys – the official PMI released by the National Bureau of Statistics (NBS) and the ~~Caixin~~ now Rating Dog China PMI published by Markit / S&P Global.

The official PMI survey covers large and state-owned companies, while 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.
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.