Caixin’s PMI Rises to Four Month High in July

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The manufacturing sector purchasing managers index published by leading Chinese finance publication Caixin rose to a four month high of 51.1 for the month of September.

The Caixin manufacturing PMI reading of 51.1 for the month of July marks an increase of 0.7 percentage points compared to June, as well as four month high.

In sharp contrast China’s official PMI was 51.4 for July, declining 0.3 percentage points compared to June.

Rapid growth in the total volume of new business spurred the rise in the Caixin PMI, with new orders putting in their best performance in five months, and new export orders increasing at their second most rapid clip since September 2014.

Chinese factories surveyed by Caixin have generally reported a turnaround in market conditions as well as robust overseas demand.

Manufacturers have continued to raise production volumes in order to deal with increasing demand, with the production sub-index rising to its highest level since July.

According to Caixin chief economist Zhong Zhengsheng the improvements in the manufacturing sector mark a continuation of the economic rebound seen in the previous month.

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