The official PMIs from the National Bureau of Statistics inChina were first:
Both the manufacturing and non-manufacturing gauges were in expansion.
After these we got the privately surveyed Markit/Caixin Manufacturing PMI, which dropped back into contraction:
Via China Beige Book, an independent consultancy firm focused on China's economy, though, much worse figures:
CBB say their contractionary results are considerably more pronounced:
- "Our deeper look at the crucial private sector, especially SMEs, shows critical metrics such as output, sales volumes, and hiring sliding even over a weak March"
- About 91% of Chinese companies resumed businesses by late April
- but only 4% operating at full capacity
- majority of surveyed firms see business conditions either staying the same or getting worse than today
- An improved but still very difficult April
(CBB comments partially via this Bloomberg report)
